OBJ. $4,5$

After closing the accounts on July $1,$ prior to liquidating the partnership, the capital

account balances of Silver, Carillo, and Tingley are $$77,700,$$$51,800,$ and $$25,900,$

respectively. Cash, noncash assets, and liabilities total $$72,500,$$$124,200,$ and

$$41,300,$ respectively. Between July $1$ and July $29,$ the noncash assets are sold for

$$116,400,$ the liabilities are paid, and the remaining cash is distributed to the

partners. The partners share net income and loss in the ratio of $3$:$2$:$1.$ Prepare a

statement of partnership liquidation for the period July $1-29.$Instuctions

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