E 17-6 Safe payments schedule The partnership of Sachi, Tora, and Ika is going to be liquidated immediately. The partnership’s financial position on December 31, 2016, is as follows:

Cash $15,000 Accounts payable $15,000 Inventories 60,000 Sachi capital (35%) 55,000 Other assets 100,000 Tora capital (35%) 65,000 Loan to Tora 10,000 Ika capital (30%) 50,000

$185,000 $185,000 The partners decide to liquidate the business on January 3, 2017, and on this date, they are able to sell all inventories for $75,000 and half of the other assets for $35,000.

REQuIRED: Prepare a safe payments schedule to show the amount of cash to be distributed to each partner if all available cash, except for a $10,000 contingency fund, is distributed immediately after the sale.