1.     After several years of business, Abel, Barney, and Cole are liquidating. The following are post-closing account balances.

Cash                                      18,000

Inventory                              73,000

Other assets                         157,000

           Accounts Payable                          61,000

           Abel, Capital                                   50,000

           Barney, Capital                                50,000

           Cole, Capital                                   87,000

Non-cash assets are sold for $275,000. Profits and losses are shared equally.

After all liabilities are paid, divide the remaining cash amongst the partners.