A partnership has the following account balances at the date of termination: Cash, $89,000; Noncash Assets, $705,000; Liabilities, $379,000; Bell, capital (50 percent of profits and losses), $195,000; Mann, capital (30 percent), $135,000; Scott, capital (20 percent), $85,000. The following transactions occur during liquidation: Noncash assets with a book value of $545,000 are sold for $445,000 in cash. A creditor reduces his claim against the partnership from $160,000 to $140,000, and this amount is paid in cash. The remaining noncash assets are sold for $130,000 in cash. The remaining liabilities of $219,000 are paid in full. Liquidation expenses of $19,000 are paid in cash. Cash remaining after the above transactions have occurred is distributed to the partners. Prepare a statement of partnership liquidation to determine how much cash each partner receives from the liquidation of the partnership. (Amounts to be deducted should be entered with a minus sign.) BELL, MANN, AND SCOTT PARTNERSHIP Statement of Partnership Liquidation Cash Noncash Liabilities Assets Bell, Capital Mann, Capital Scott, Capital (50%) (30%) (20%) Beginning balances Sale of noncash assets Pay liabilities Sale of remaining noncash assets Pay remaining liabilities Pay liquidation expenses Subtotal Distribution to partners Ending balances