Not exactly sure how to calculate Allocations of gains (losses)

Problem 12-6A Liquidation of a partnership LO P5 Kendra, Cogley, and Mei share income and loss in a 3:2:1 ratio. The partners have decided to liquidate their partnership. On the day of liquidation their balance sheet appears as follows. Assets Cash Inventory KENDRA, COGLEY, AND MEI Balance Sheet May 31 Liabilities and Equity $ 62,400 Accounts payable 555,600 Kendra, Capital Cogley, Capital Mei, Capital $618,000 Total liabilities and equity $242,000 75,200 169,200 131,600 $618,000 Total assets Required: For each of the following scenarios, complete the schedule allocating the gain or loss on the sale of inventory. Prepare journal entries to record the below transactions. (Do not round intermediate calculations. Amounts to be deducted or Losses should be entered with a minus sign. Round your final answers to the nearest whole dollar.) (1) Inventory is sold for $606,000. (2) Inventory is sold for $466,800. (3) Inventory is sold for $342,000 and any partners with capital deficits pay in the amount of their deficits. (4) Inventory is sold for $295,800 and the partners have no assets other than those invested in the partnership. Required 1 Inventory Required 1 GJ Required 2 Inventory Required 2 GJ Required 3 Inventory Required 3 GJ Required 4 Inventory Required 4 GJ Complete the schedule allocating the gain or loss on the sale of inventory is $606,000. Step 1) Determination of Gain (Loss) Proceeds from the sale of inventory $ 606,000 Inventory cost 555,600 Gain on sale $ 50,400 Step 2) Allocation of the Gain (Loss) to the Partners. KENDRA Initial capital balances $ 75,200 Allocation of gains (losses) 376 37,600 Capital balances after gains (losses) $ 112,800 $ $ COGLEY $ 169,200 56,400 $ 225,600 MEI 131,600 21,933 153,533 Total 376,000 115,933 491,933 216 1/6 $ $ Required 1 Inventory Required 1 GJ Required 2 Inventory Required 2 G Required 3 Inventory Required 3 GJ Required 4 Inventory Required 4 GJ Complete the schedule allocating the gain or loss on the sale of inventory is $466,800. Step 1) Determination of Gain (Loss) Proceeds from the sale of inventory $ 466,800 Inventory cost 555,600 Loss on sale $ (88,800) Step 2) Allocation of the gain (Loss) to the Partners. KENDRA Initial capital balances $ 75,200 Allocation of gains (losses) 3/6 Capital balances after gains (losses) $ 75,200 COGLEY $ 169,200 MEI 131,600 Total 376,000 $ $ 2/6 1/6 $ 169,200 $ 131,600 $ 376,000 Step 1) Determination of Gain (Loss) Proceeds from the sale of inventory $ 342,000 Inventory cost 555,600 Loss on sale $ (213,600) Step 2) Allocation of the Gain (Loss) to the Partners. KENDRA Initial capital balances $ 75,200 Allocation of gains (losses) Capital balances after gains (losses) $ 75,200 COGLEY $ 169,200 MEI 131,600 Total 376,000 $ $ $ 169,200 $ 131,600 $ 376,000