On January 1, 2016, the partners Carlo, Diego, and Edgar who share profits and losses in the ratio of 5:3:2, date the partnership condensed balance sheet was as follows:

Cash80,000

Other Assets400,000

Accounts Payable96,000

Carlo, Capital128,000

Diego, Capital144,000

Edgar, Capital112,000

On September 20, all other assets are sold at 280,000. Assuming that all partners are solvent.

Required:

Prepare Statement of Partnership Liquidation (Lumpsum)