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E14.16 Safe Payment Calculation Partners Rane, Snow, and Hale share profits and losses in the ratio of 5:3:2, respectively. The partners vote to dissolve the

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E14.16 Safe Payment Calculation Partners Rane, Snow, and Hale share profits and losses in the ratio of 5:3:2, respectively. The partners vote to dissolve the partnership when its assets, liabilities, and capital ana as follows: Cash . . . . . . . . . . . . . . . . . . . . . . . .. Other assets...... $ 45,000 750,000 Liabilities............ Capital-Rane ........ CapitalSnow... Capital-Hale Total liabilities and capital ........ $140,000 210,000 275,000 170,000 $795,000 Total assets ...... $795,000 The partnership will be liquidated over an extended period of time. As cash becomes available, it will be distributed to the partners. The first sale of noncash assets having a book value of $200,000 realizes $125,000. Required Use the safe payment approach to determine the amount of cash to be distributed to each partner after this sale

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