Check my work Matthews, Mitchell, and Michaels are partners in BG Land Development Company and share losses in a 5:32 ratio, respectively. The balance sheet on June 30, 20X1, when they decide to liquidate the business, is as follows Assets Liabilities and Capital Cash Noncash Assets $ 9,000 135,000 Accounts Payable $ 26,000 Mitchell, Loan 15,000 Matthews, Capital 65,000 Mitchell, Capital 24,000 Michaels, Capital 14,000 Total Assets $144,000 Total Liabilities and Equities $144,000 The noncash assets are sold for $105,000. Required: a. Prepare a statement of partnership realization and liquidation. BG LAND DEVELOPMENT COMPANY Statement of Partnership Realization and Liquidation