Mike, Miko, Michael and Mikhael formed a partnership several years ago. They have decided to terminate operations and liquidate the business. The following balance sheet is drawn up as a guideline for this process: Cash P 150,000 Liabilities P 740,000 Accounts receivable 820,000 Michael, Loan 350,000 Inventory 1,010,000 Mike, Capital(30%) 1,200,000 Land 850,000 Miko, Capital(10%) 880,000 Building and equipment, net 1,680,000 Michael, Capital(20%) 740,000