Blossom Company at December 31 has cash $20,000, noncash assets $100,000, liabilities $50,000, and the following capital balances: Floyd $42,000 and DeWitt $28,000. The firm is liquidated, and $110,000 in cash is received for the noncash assets. Floyd and DeWitt income ratios are 60% and 40%, respectively. Prepare a schedule of cash payments. (If an amount reduces the account balance then enter with a negative sign preceding the number e.g. -15,000 or parenthesis e.g. (15,000).)

BLOSSOM COMPANY Schedule of Cash Payments
Item		Cash	+	Noncash Assets	=	Liabilities	+	Floyd, Capital	+	DeWitt, Capital
Balances before liquidation		$20,000		$100,000		$50,000		$42,000		$28,000
Sale of noncash assets and allocation of gain		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
New balances		enter a subtotal of the two previous amounts		enter a subtotal of the two previous amounts		enter a subtotal of the two previous amounts		enter a subtotal of the two previous amounts		enter a subtotal of the two previous amounts
Pay liabilities		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
New balances		enter a subtotal of the two previous amounts		enter a subtotal of the two previous amounts		enter a subtotal of the two previous amounts		enter a subtotal of the two previous amounts		enter a subtotal of the two previous amounts
Cash distribution to partners		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
Final balances		$enter a total amount		$enter a total amount