! Required information QS 12-13 (Algo) Liquidation of partnership LO P5 [The following information applies to the questions displayed below.] The Field, Brown & Snow are partners and share income and losses equality. The partner decide to liquidate the partnership when their capital balances are as follows: Field, $131,500; Brown, $167,500; and Snow, $154,800. On May 31, the liquidation resulted in a loss of $406,500. QS 12-13 (Algo) Part 1 1. Compute the capital account balance of each partner after the loss from liquidation is allocated. (Losses and negative capital balances, if any, should be entered with a minus sign.) Initial investments Loss allocation 1/3 Capital balances Field Brown Snow EA $ Total 0 0 $ 0