Lop partnership started the liquidation process in April. The partners closed the books and presented the following trial balance.

Cash 18,000

Accounts Rec. 80,000

Inventory 50,000

Plant Assets (net) 104,000

Liabilities (80,000)

Smith, capital (40%) (32,000)

Surro, capital (30%) (60,000)

Sally, capital (30%) (80,000)

The partners agreed that each could wait to receive cash until the liquidation is completed. The following events take place during the liquidation.

1. The inventory is sold for $42,000.

2. Plant assets are sold for $95,000.

3. Accounts receivables are sold to a bank for their estimated market value, $75,000.

4. The liabilities are fully paid.

5. Liquidation expenses of $3,000 are incurred.

6. All remaining assets are distributed to the partners.

REQUIRED: Complete the partnerships Statement of Realization and Liquidation.