3 The following condensed balance sheet is for the partnership of Hardwick, Saunders, and Ferris, who share profits and losses In the ratio of 4:3:3, respectively: cash $ 86, 090 Accounts payable $132, 080 other assets 205, 090 Ferris, loan 51, 808 Hardwick, loan 52, 000 Hardwick, capital 310, 080 Saunders, capital 230, 080 Ferris, capital 220, 080 Total assets $943, 060 Total liabilities and capital $943, 080 The partners decide to liquidate the partnership. Forty percent of the other assets are sold for $185,000. Prepare a proposed schedule of liquidation at this point In time. (Amounts to be deducted should be entered with a minus sign.) HARDWICK, SAUNDERS, AND FERRIS Proposed Schedule of Liquidation Hardwick, Cash Other Accounts Payable Loan and Saunders, Ferris, Loan Assets Capital Capital & Capital Beginning balances Sold assets Adjusted balances Max loss on remaining noncash assets Paid liabilities Safe payments4 The following condensed balance sheet is for the partnership of Miller, Tyson, and Watson, who share profits and losses In the ratio of 6:2:2, respectively: Cash $ 51, 060 Liabilities $ 49,080 other assets 151, 060 Miller, capital 66, 080 Tyson, capital 66, 080 Watson, capital 21, 080 Total assets $ 202, 090 Total liabilities and capital $ 202, 080 a. Assuming no liquidation expenses, calculate the safe payments that can be made to partners at this point In time. b. For how much money must the other assets be sold so that each partner receives some amount of cash In a liquidation? Complete this question by entering your answers in the tabs below. Required A Required B Assuming no liquidation expenses, calculate the safe payments that can be made to partners at this point in time. Miller Tyson Watson Safe payments Required A Required B For how much money must the other assets be sold so that each partner receives some amount of cash in a liquidation? Other assets must be sold