CALCULATOR PRINT HK Partnership Schedule of Cash Payments Item Cash Noncash Assets +Henson, Capital + Liabilities Kaenzig, Capital + Balances before liquidation $ Sale of noncash assets and allocation of losses New balances Pay liabilities New balances Allocate capital deficiency New balances Cash Distribution Final balances $ Question 5 The HK Partnership is liquidated when the ledger shows: Cash $60,000 Noncash Assets 90,000 Liabilities 44,000 Howell, Capital 100,000 Kenton, Capital 6,000 Henson and Kaenzig income ratios are 3:2, respectively. Prepare a schedule of cash payments, assuming that the noncash assets were sold for $65,000. Assume that any partner's capital deficiencies cannot be paid to the partnership. (If an amount reduces the account balance then enter with a negative sign preceding the number e.g. -15,000 or parentheses e.g. (15,000).)