After discontinuing the ordinary business operations and closing the accounts on May 7, the ledger of the partnership of Anna, Brian, and Cole indicated the following:

Cash	$ 7,500
Noncash Assets	105,000
Liabilities		$ 27,500
Anna, Capital		45,000
Brian, Capital		15,000
Cole, Capital		25,000
	$112,500	$112,500

The partners share net income and losses in the ratio of 3:2:1. Between May 7-30, the noncash assets were sold for $150,000, the liabilities were paid, and the remaining cash was distributed to the partners.

(a)	Prepare a statement of partnership liquidation.

						Capital
				Noncash		Anna	Brian	Cole
			Cash +	Assets =	Liabilities +	+	+
Balances before realization
Sale of assets and division of gain
Balances after realization
Payment of liabilities
Balances after payment of liabilities
Receipt of deficiency
Balances
Cash distributed to partners
Final balances