After discontinuing the ordinary business operations and dosing 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 Brian, Capital Cole, Capital 45,000 15,000 25,000 $112.500 $112,500 The partners share ret income and losses in the ratio of 3:2:1. Between May 7 and May 30, the noncash assets were sold for $150,000, the liabilities were paid, and the remaining cash wes distributed to the partners. a. Prepare a statement of partnership liquidation. If an artiount box does not require an entry, leave it blank. Anna, Brian, and Cole Statement of Partnership Liquidation For Period May 7-30 Noncash Cash + Asas Llabilities Capital Capital Capital Anna Brian Cole (3/6) + (2/6) (1/6) Balances before realization Sale of assets and division of gain Balances after realization Payment of liabilities inihint! LII I bi tot bo0 Don T Balances after payment of liabilities Cash distributed to partners Final balances b. Assume the same facts as in (a), except that the noncash assets were sold for $45,000 and any partner with a capital deficiency pays the amount of the deficiency to the partnership. Prepare a statement of partnership liquidation. If an amount bax docs not require an entry, leave it blank. Anna, Brian, and Cole , Statement of Partnership Liquidation For Period May 7.30 Capital Capital Capital Anna Brian Cole (3/6) + (2/6) + (1/6) (+ () + ) Cash + Noncash Assets = Liabilities Balances before realization Sale of assets and division of loss Balances after realization Payment of liabilities Balances after payment of liabilities Receipt of deficiency Balances Cash distributed to partners Final balances