Lui, Montavo, and Johnson plan to liquidate their Premium Pool and Spa business. They have always shared profit and losses in a $1\mathrm{.}4$:$5$ ratio, and on the day of the liquidation their balance sheet appeared as follows:

Required

Part $1$

Under the assumption that the machinery is sold and the cash is distributed to the proper parties on

June $30,2023,$ complete the schedule provided below.

Show the sale, the gain or loss allocation, and the distribution of the cash in each of the following

unrelated cases:

a$.$ The machinery is sold for $$488,130.$

b$.$ The machinery is sold for $$375,000.$

c$.$ The machinery is sold for $$212,500,$ and any partners with resulting deficits can and do pay in the amount

of their deficits.

d$.$ The machinery is sold for $$187,500,$ and the partners have no assets other than those invested in the

business.