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ABC Corporation currently has $20,000 in cash. $30,000 in noncash assets, and liabilities of $35,000. The partners, Adrian, Batch, and Crenshaw, had capital balances of

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ABC Corporation currently has $20,000 in cash. $30,000 in noncash assets, and liabilities of $35,000. The partners, Adrian, Batch, and Crenshaw, had capital balances of $5,000, $8,000, and $2,000, respectively. The partners share a profit and loss ratio of 1:1:3. The noncash assets were sold for $20,000. Any capital deficiencies are resolved by a cash contribution by the deficient partner. Complete the liquidation chart below. Cash) Noncash Assets Statement of Partnership Liquidation Liabilities Adrian Capital Batch Crenshaw 20,000 30,000 35,000 5,000 8,000 2,000 20,000 -30,000 0 6,000 6,000 18,000 Balances before realization Sale or assets and division of loss or gain Balances after realization Payment of liabilities Balances after payment of liabilities 20,000 -30,000 6,000 6,000 18,000 assets and division of loss or gain Balances afler realization Payment of liabilities Balances after payment of liabilities Receipt of deficiency Balances Cash distributed to partners Final balances

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