Kendra. Cogley, and Mei share income and loss in a 3221 ratio (in ratio formc Kendra, 3/6; Cogley, 2/6, and Mei, 1/6). The partners have decided to liquidate their partnership. On the day of liquidation, their balance sheet appears as follows. Required: For each of the following scenanios, complete the schedule allocating the gain or loss on the sale of inventory. Prepare joumal entries to record the below transactions. (Do not round intermediote calculations. Enter losses and partner deficits, if any, as negative omounts.) 1. Inventory is sold for $600.000. 2. Inventory is sold for $500,000 3. Inventory is sold for $320,000 and partners with deficits pay their deficits in cash. 4. Inventory is sold for $250,000 and partners with deficits do not pay their deficits. Complete this question by entering your answers in the tabs below. Complete the schedule allocating the gain or loss on the sale of inventory is $600,000