A partnership is considering possible liquidation because one of the partners (Bell) is personally insolvent. Profits and losses are divided on a 4:3:2:1 basis, respectively. Capital balances at the current time are Bell, capital $ 86, 000 Hardy, capital 70, 000 Dennard, capital 20, 000 Suddath, capital 94, 000 Bell's creditors have filed a $35,000 claim against the partnership's assets. The partnership currently holds assets of $440,000 and liabilities of $170,000. An independent appraiser indicates that the assets can be sold for $260,000. Required: Prepare a statement of partnership liquidation to determine the amount of cash that Bell would receive from the sale of partnership assets. Note: Amounts to be deducted should be entered with a minus sign.Balances Sale of assets Subtotal Pay liabilities Subtotal Allocate deficit Subtotal Distribute cash Ending balances 260,000 $ 260,000 $ 260,000 $ 260,000 $ 260,000 $ $ 86,000f $ 70,000f $ 20,000 86,000 $ 86,000 $ 86,000 $ 86,000 20,000