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 Hardy, capital Dennard, capital Suddath, capital $ 50,000 56,000 14,000 80,000 Bell's creditors have filed a $21,000 claim against the partnership's assets. The partnership currently holds assets of $300,000 and liabilities of $100,000. An independent appraiser indicates that the assets can be sold for $190,000. 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. BELL, HARDY, DENNARD, AND SUDDATH PARTNERSHIP Statement of Partnership Liquidation (Hypothetical) Cash Assets Liabilities Bell, Capital 40% Hardy, Capital 30% Dennard, Suddath, Capital 20% Capital 10% 0 0 FA Sale of assets Subtotal $ 0 0 0 0 0 0 0 Balances Pay liabilities Subtotal Allocate deficit Subtotal Distribute cash Ending balances A 69 0 $ 0 69 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 0 $ 0 69 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0