lui, montavoLui, Montavo, and Johnson plan to liquidate their Premium Pool and Spa business. They have always shared profit and losses in 1:4.5 ratio, and on the day of the liquidation their balance sheet appeare0 answers 
     

Premium Pool and Spa Balance Sheet June 30, 2020 Assets Cash Machinery Less: Accumulated depreciation Total assets Liabilities Accounts payable Equity Jim Lui Kent Montavo, capital Dave Johnson, capital Total equity Total liabilities and equity $ 71,250 $600,750 143,000 457,750 $ 76,900 201,500 113,100 $529,000 $137,500 391,500 $529,000