Pina Company at December 31 has cash $47,000, noncash assets $206,000, liabilities $128,000, and the following capital balances: Hoffman $91,000 and Mena $34,000. The firm is liquidated, and $232,000 in cash is received for the noncash assets. Hoffman and Mena income ratios are 60% and 40%, respectively. (If an amount reduces the account balance then enter with a negative sign preceding the number e.g. -15,000 or parentheses e.g. (15,000).)

Prepare a schedule of cash payments.

PINACOMPANY Schedule of Cash Payments
Item		Cash	+	Noncash Assets	=	Liabilities	+	Hoffman Capital	+	Mena Capital
Balances before liquidation		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
Sale of noncash assets and allocation of losses		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
New balances		enter a total amount for the first part		enter a total amount for the first part		enter a total amount for the first part		enter a total amount for the first part		enter a total amount for the first part
Pay liabilities		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
New balances		enter a total amount for the second part		enter a total amount for the second part		enter a total amount for the second part		enter a total amount for the second part		enter a total amount for the second part
Cash distribution		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
Final balances		$enter a total amount for this schedule		$enter a total amount for this schedule		$enter a total amount for this schedule