David Wallace, Olena Dunn, and Danny Lin were partners in a commercial architect firm and showed the following account balances as of December 31, 2020 Account balances December 31, 2020 Accum. Deprec. Accounts Cash $21,400 Olena Notes: Wallace, Dunn, Equipment Equipment Payable Payable Capital Capital $164,000 $93,000 $7,400 $16,000 $15,000 $18,000 $16,000 David Danny Lin, Capital Due to several unprofitable periods, the partners decided to liquidate the partnership. The equipment was sold for $60,000 on January 1, 2021. The partners share any profit (loss) in the ratio of 2:1:1 for Wallace. Dunn, and Lin, respectively. Required: 1. Complete the schedule. (Negative answers should be indicated by a minus sign.) Accounts Payable Notes Payable David Wallace, Olena Dunn, Capital Capital Danny Lin, Capital 93,000 $ 7,400 $16,000 $ 35,000 $ 18.000 $ 16,000 Cash Equipment Accum Deprec. Equipment Account balances December 31, 2020 $ 21,400 $ 164,000 $ Sale of equipment Balance Payment of liabilities Balance