AL ch 14, 15,6 Seved The following condensed balance sheet is for the partnership of Hardwick, Saunders, and Ferris, who share profits and losses in the ratio of 4:3:3, respectively Cash other assets Hardwick, loan $ 86,000 780,000 37,000 Accounts payable Ferris, loan Hardwick, capital Saunders, capital Ferris, capital Total liabilities and capital $ 136,000 47,000 310,000 210,000 200,000 $ 903,000 Total assets $ 903,000 The partners decide to liquidate the partnership. Fifty percent of the other assets are sold for $270,000. Prepare a proposed schedule of liquidation at this point in time. (Amounts to be deducted should be entered with a minus sign.) HARDWICK, SAUNDERS, AND FERRIS Proposed Schedule of Liquidation Hardwick, Other Accounts Cash Loan and Assets Payable Capital Saunders Capital Ferris, Loan & Capital Beginning balances Sold assets Assumed loss on remaining assets Paid liabilities Safe balances $ o $ 0 $ OS 0 $ 0 0 Next