At December 31,OrioleCompany has cash of $25,000, equipment of $148,000, accumulated depreciation of $43,000, accounts payable of $54,000, and the following partners' capital balances: H. Bayer $51,000and J. Leech $25,000. The partnership is liquidated on December 31 of the current year and $125,000cash is received for the equipment. Bayer and Leech share profits and losses equally.

1. How much is the gain or loss on the disposal of the noncash assets?
2. How much of that gain or loss is allocated to each partner?
3. How much cash will be paid to each of the partners when the company is liquidated on December 31?