right answer please

Problem 11-8A Liquidation of a partnership LO5 Lui. Montavo, and Johnson plan to liquidate their Premium Pool and Spa business. They have always shared profit and losses in a 1:4:5 ratio, and on the day of the liquidation their balance sheet appeared as follows: $ 73,250 $604,750 145,000 459,750 $533,000 Premium Pool and Spa Balance Sheet June 30, 2020 Assets Cash Machinery Less: Accumulated depreciation Total assets Liabilities Accounts payable Equity Jim Lui Kent Montavo, capital Dave Johnson, capital Total equity Total liabilities and equity $140,900 $ 77,180 201,700 113,300 392,100 $533,000 Required: 1. Under the assumption that the machinery is sold and the cash is distributed to the proper parties on June 30, 2020, complete the schedule provided below. Show the sale, the gain or loss allocation, and the distribution of the cash in each of the following unrelated cases 8. The machinery is sold for $504,000. (Negative answers should be indicated by a minus sign.) a. The machinery is sold for $504,000. (Negative answers should be indicated by a minus sign.) & Answer is not complete. Account balances June 30, 2020 $ Premium Pool and Spa June 30, 2020 Accum. Jim Lui, Kent Accounts Dave Cash Machinery Deprec.. Montavo, Payable Capital Machinery Johnson, Capital Capital 73,250 $ 604,750 $ 145,000 $ 140,900 $ 77,100 $ 201,700 $ 113,300 504,000 (604,750) (145,000) $ 0$ 0 $ 140.900 (140,900) $ 0 Sale of Machinery for $504,000 Balance Payment of liabilities Balance Distribution of cash to partners Balance $ 0 S $ b. The machinery is sold for $391,000. (Negative answers should be indicated by a minus sign.) Premium Pool and Spa June 30, 2020 Accum. Machinery Deprec. Machinery Cash Accounts Payable Jim Lui. Capital Kent Montavo Capital Dave Johnson, Capital