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

Premium Pool and Spa

Balance Sheet

June $30,2023$

Assets

Cash $ $80,250$

Machinery $ $618,750$

Less: Accumulated depreciation $152,000466,750$

Total assets $ $547,000$

Liabilities

Accounts payable $ $152,800$

Equity

Jim Lui $ $77,800$

Kent Montavo, capital $202,400$

Dave Johnson, capital $114,000$

Total equity $394,200$

Total liabilities and equity $ $547,000$

Required:

$1.$ 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 $$518,000.($Negative answers should be indicated by a minus sign.$)$