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 $ $70,250$

Machinery $ $598,750$

Less: Accumulated depreciation $142,000456,750$

Total assets $ $527,000$

Liabilities

Accounts payable $ $135,800$

Equity

Jim Lui $ $76,800$

Kent Montavo, capital $201,400$

Dave Johnson, capital $113,000$

Total equity $391,200$

Total liabilities and equity $ $527,000$

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 $$498,000.($Negative answers should be indicated by a minus sign.$)$

b$.$ The machinery is sold for $$385,000.($Negative answers should be indicated by a minus sign.$)$

c$.$ The machinery is sold for $$208,000,$ and any partners with resulting deficits can and do pay in the amount of their deficits. $($Negative answers should be indicated by a minus sign.$)$

d$.$ The machinery is sold for $$197,000,$ and the partners have no assets other than those invested in the business. $($Negative answers should be indicated by a minus sign.$)$

$2.$ Prepare the entry to record the final distribution of cash assuming the machinery is sold for $$498,000.$