Problem 15-16 (Algo) (LO 15-6) The following condensed balance sheet is for the partnership of Hardwick, Saunders, and Ferris, who share profits and losses in the ratio of 4:3:3, respectively: Cash Other assets Hardwick, loan $ 82,000 760,000 33,000 Accounts payable Ferris, loan Hardwick, capital Saunders, capital Ferris, capital Total liabilities and capital $232,000 43,000 270,000 170,000 160,000 $875,000 Total assets $875,000 The partners decide to liquidate the partnership. Forty percent of the other assets are sold for $230,000. Prepare a proposed schedule of liquidation at this point in time. (Amounts to be deducted should be entered with a minus sign.) HARDWICK, SAUNDERS, AND FERRIS Proposed Schedule of Liquidation Other Accounts Cash Assets Payable Hardwick, Loan and Capital Saunders, Capital Ferris, Loan & Beginning balances Sold assets Adjusted balances Max loss on remaining noncash assets Paid liabilities $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Safe payments $ 0 $ 0 $ 0 $ 0 $ 0 $ 0