Problem 2 Fergus, Gomez and Harlow share income and losses in the ratio of 5:3:2. After terminating their business operations on August 1, 2020, adjusting and closing the accounts, the summary of the general ledger are shown below: Cash Non-cash assets 25,000 Liabilities 575,000 Fergus, Loan Fergus, Capital Gomez, Capital Harlow Capital 600,000 Total Liabilities & Capital 160,000 20,000 120,000 200,000 100,000 600,000 Total assets Additional information: a. During the month of August, 2020, non-cash assets with a book value of P250,000 were sold for P190,000. Liquidation expenses of P10,000 and all liabilities were paid, P10,000 is retained and the remaining cash is distributed to the partners. b. During the month of September 2020, non cash assets with a book value of P100,000 were sold for P75,000. Liquidation expenses of P5,000 were paid, P5,000 is retained and the remaining cash is distributed to the partners. c. During the month of October, 2020, the remaining non-cash assets with a book value of P225,000 were sold for P30,000 REQUIREMENT: Prepare a statement of Liquidation with supporting schedule for cash distribution