Asure, Ramirez, and Soney, who share income and loss in a 2:1:2 ratio, plan to liquidate their partnership. At liguidation, their balance sheet appears as follows: ASURE, RAMIREZ, AND SONEY Balance Sheet January 18 Assets Liabilities and Equity Cash $174,300 Accounts Payable $171,300 Equipment 308,600 Asure, Capital 150,200 Ramirez, Capital 97,900 Soney, Capital 63,500 $482,900 Total Liabilities and equity $482,900 Total assets Required: Prepare the liquidation statement in each of the following separate cases: Equipment is sold for (1) $265,000; (2) $100,000 and any partners with capital deficits pay in the amount of their deficits; and (3) $75,000 and the partners have no assets other than those invested in the partnership. Prepare the required journal entries under the third case. Asure, Ramirez, and Soney, who share income and loss in a 2:1:2 ratio, plan to liquidate their partnership. At liguidation, their balance sheet appears as follows: ASURE, RAMIREZ, AND SONEY Balance Sheet January 18 Assets Liabilities and Equity Cash $174,300 Accounts Payable $171,300 Equipment 308,600 Asure, Capital 150,200 Ramirez, Capital 97,900 Soney, Capital 63,500 $482,900 Total Liabilities and equity $482,900 Total assets Required: Prepare the liquidation statement in each of the following separate cases: Equipment is sold for (1) $265,000; (2) $100,000 and any partners with capital deficits pay in the amount of their deficits; and (3) $75,000 and the partners have no assets other than those invested in the partnership. Prepare the required journal entries under the third case