I am struggling to understand how to fill in a statement of liquidation, where the calculations are coming from for question/solution #9102054...

https://www.coursehero.com/tutors-problems/Accounting/9102054-Using-the-data-in-the-linked-at-the-bottom-of-the-page-perform-the/

I understand all other aspects, just need instruction on completing statement of liquidation

Fair Value of Items Contributed to Partnership (FMV=Basis) on March 1, 2014 Assets, Liabilities & Equities Cash AR Inventory Land Furniture Less: Accumulated Depreciation Computer Less: Accumulated Depreciation Building Total Assets AP Loan-L S $10,000 $15,000 P $25,000 L $25,000 I $25,000 $15,000 $15,000 T $25,000 $10,000 $15,000 $50,000 $90,000 $0 $0 $50,000 $0 $0 $60,000 $30,000 $5,000 $85,000 $0 $0 $55,000 $0 $5,000 $45,000 $15,000 $0 a) Use the information to the left to journalize the formation of the partnership. Prepare the beginning p balance sheet using the template to the right Account b) Assume it is now December 31, 2014. Adjust for depreciation for the furniture (7 year life), computer and building (40 year life). Account c) In addition to the depreciation expenses there are $10,000 of operations expenses all paid in cash. Th also operational revenue of $20,000 (also paid in cash). Prepare the partnership balance sheet as of D 31, 2014 also given the effects of transactions in a) and b). Income Statement for SPLIT for the Year Ended December 31, 2014 Operational Revenue Depreciation Expense*** Other Operational Expenses Net Income *** Use amount from adjusting entry and calculate net income rship. Prepare the beginning partnership DR CR niture (7 year life), computer (3 year life) DR CR s expenses all paid in cash. There was tnership balance sheet as of December er 31, 2014 $20,000 $10,000 Balance Sheet for SPLIT as of March 1, 2014 Assets Cash AR Inventory Land Furniture Less: Accumulated Depreciation Computer Less: Accumulated Depreciation Building Total Assets Liabilities AP Loan-L Equity Capital-S Capital-P Capital-L Capital-I Capital-T Total Equity and Liabilities Balance Sheet for SPLIT as of December 31, 2014 Assets Cash AR Inventory Land Furniture Less: Accumulated Depreciation Computer Less: Accumulated Depreciation Building Less: Accumulated Depreciation Total Assets Liabilities AP Loan-L Equity Capital-S Capital-P Capital-L Capital-I Capital-T Total Equity and Liabilities Statement of Liquidation for SPLIT Assets Cash Noncash A Accounts Payable Liabilities Notes Payable Realization and allocation Subtotals Distributions Outside Creditors Partner Loans Partners Capital Post Liquidation Balances ** Fixed assets each sold for 20% above ending book value, Inventory sold for 10% below ending book value and all other fair v uidation for SPLIT Partners Capital lities Loan S P L w ending book value and all other fair values were equal to book value. I T