The partnership of Lee, Molnari, and Nix is dissolving. Business assets, liabilities, and partners' capital balances prior to dissolution follow. The partners share profits and losses as follows: Kim Lee, 25 percent; Sandra Molnari, 55 percent; and Ray Nix, 20 percent.

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Create a spreadsheet or solve manually-as directed by your instructor-to show the ending balances in all accounts after the noncash assets are sold for \(\$ 145,000\) and for \(\$ 95,000\). Determine the unknown amounts (?):

Identify two ways the partners can deal with the negative ending balance in Nix's capital account.

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B C 1 2 3 D Lee, Molnari, and Nix Sale of Noncash Assets (For $145,000) E F 4 5 Noncash Lee Molnari Nix 6 Cash Assets Liabilities Capital Capital Capital 7 8 $ 6,000 $126,000 $77,000 $12,000 $37,000 $6,000 145,000 (126,000) ? 10 11 $151,000 $ 0 $77,000 S ? $ 7 P 12 13 ($A9-$B8).25 14 (For $95,000) 15 16 17 Noncash Lee Molnari Nix 18 Cash Assets Liabilities Capital Capital Capital 19- 20 $ 6,000 $126,000 $77,000 $12,000 $37,000 $6,000 21 95,000 (126,000) ? 22 23 $101,000 $ 0 $77,000 $ 7 $ 7 24 (SA21-SB20)*.25