Prepare a statement of liquidation that ends on the orange line. Also give the schedule of safe payments note: Carl is insolvent.

 

PROBLEM #5 Distribute available cash NON-CASH BARON, ALEX, BARON, CARL, CASH ASSETS LIABILITIES LOAN CAPITAL CAPITAL CAPITAL Profit and Loss Ratio 20% 35% 45% 95,000.00 Balances before liquidation Sale of Assets and Division of loss 90,000.00 300,000.00 120,000.00 10,000.00 70,000.00 95,000.00 70,000.00 -300,000.00 -46,000.00 -80,500,00 -103,500,00 "4 "5 12 13 14