$ Cash Other assets Hardwick, loan 93,000 815,000 44,000 Accounts payable Ferris, loan Hardwick, capital Saunders, capital Ferris, capital Total liabilities and capital $ 48.000 54,000 380,000 240,000 230,000 $ 952,000 Total assets $952,000 The partners decide to liquidate the partnership Forty percent of the other assets are sold for $125,000. 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, Cash Other Accounts Assets Loan and Payable Capital Saunders, Capital Ferris, Loan & Capital Beginning balances Sold assets Assumed loss on remaining assets Paid abilities Safe balances A local partnership is to be liquidated Commissions and other liquidation expenses are expected to total $19.000. The business's balance sheet prior to the commencement of liquidation is as follows: $ Cash Noncash assets $ 27,000 254,000 Liabilities Simpson, capital (20%) Hart, capital (40%) Bobb, capital (20%) Reddi, capital (20%) 40,000 18,000 40,000 48,000 135.000