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J & K partnership's balance sheet at December 31, 2018 reported the following: ...

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Accounting

J & K partnership's balance sheet at December 31, 2018 reported the following:

Total Assets 100,000
Total Liabilities 20,000
J, Capital 40,000
K, Capital 40,000

On January 2, 2019 J and K dissolved their partnership and transferred all assets and liabilities to a newly formed corporation. At the date of incorporation, the fair value of the net assets was $12,000 more than the carrying amount on the partnership's books, of which $7,000 was assigned to tangible assets and $5,000 was assigned to good will. J and K were each issued 5,000 shares of the corporation's $1 par value common stock. Immediately following incorporation, additional paid in capital in excess of par should be credited for how much?

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