Kendra, Cogley, and Mei share income and loss in a 3:2:1 ratio. The partners have decided to liquidate their partnership. On the day of liquidation their balance sheet appears as follows. KENDRA, COGLEY, AND MEI Balance Sheet May 31 Assets Cash $ 72, 800 Liabilities and Equity Accounts payable Inventory 547, 200 Kendra, Capital $241, 000 Cogley, Capital 75, 800 Mei, Capital 170, 550 132, 650 Total assets $620, 000 Total liabilities and equity $620, 000 Required: For each of the following scenarios, complete the schedule allocating the gain or loss on the sale of inventory. Prepare journal entries to record the below transactions. (Do not round intermediate calculations. Amounts to be deducted or Losses should be entered with a minus sign. Round your final answers to the nearest whole dollar.) (1) Inventory is sold for $604,200. 2) Inventory is sold for $478,200. (3) Inventory is sold for $315,600 and any partners with capital deficits pay in the amount of their deficits. (4) Inventory is sold for $284,400 and the partners have no assets other than those invested in the partnership. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Inventory Required 2 GJ Required 3 Required 3 GJ Required 4 Required 4 GJ Inventory Required 1 GJ Inventory Inventory