Principles of Accounting II Assignment 4 Part A {15 points each for a possible total of 30 points) 1. After several years of business, Abel, Barney, and Cole are liquidating. The following are postclosing account balances. Cash 18,000 Inventory 73,000 Other assets 157,000 Accounts Payable 61,000 Abel, Capital 50,000 Barney, Capital 50,000 Cole, Capital 87,000 Noncash assets are sold for $275,000. Profits and losses are shared equally. After all liabilities are paid, divide the remaining cash amongst the partners