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 Cash $21,400 Equipment $164,000 Accum. Deprec Equipment $93,000 Accounts Payable $7,400 Notes Payable $16,000 David Olena Wallace, Dunn, Lin, Capital Capital Capital $35,000 $18,000 $16,000 Danny es 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.) Cash Equipment Accum. Deprec. David Accounts Payable Olena Notes Payable Danny Wallace, Dunn, Lin Equipment Capital Capital Capital Account balances December 31, 2020 $ 21,400 $ 164,000 $ 93,000 $ 7,400 $ 16,000 $ 35,000 $ 18,000 $ 16,000 Sale of equipment Balance $ 21,400 $ 164,000 $ 93,000 $ 7,400 $ . 16,000 $ 35,000 $ 18.000 $ 16.000 Payment of liabilities Balance $ 21,400 $ 164,000 $ 93,000 $ 7,400 $ 16,000 $ 35,000 $ 18.000 S 16,000