Statement of Partnership Liquidation After closing the accounts on July 1, prior to liquidating the partnership, the capital account balances of Gold, Porter, and Sims are $27,000, $38,400, and $17,100, respectively. Cash, noncash assets, and liabilities total $41,100, $71,100, and $29,700, respectively. Between July 1 and July 29, the noncash assets are sold for $56,700, the liabilities are paid, and the remaining cash is distributed to the partners. The partners share net income and loss in the ratio of 3:2:1. Prepare a statement of partnership liquidation for the period July 1-29. Enter any subtractions (balance deficiencies, payments, cash distributions, divisions of loss, sale of assets) as negative numbers using a minus sign. If an amount is zero, enter in "0". Gold, Porter, and Sims Statement of Partnership Liquidation For the Period Ending July 1-29 Noncash Assets = Liabilities + Capital Gold (3/6) + Cash + Capital Porter (2/6) + Capital Sims (1/6) Balances before realization Sale of assets and division of loss Balances after realization Payment of liabilities Balances after payment of liabilities $ Cash distributed to partners TA Final balances Liquidating Partnerships-Capital Deficiency Nettles, King, and Tanaka are partners sharing income 3:2:1. After the firm's loss from liquidation is distributed, the capital account balances were: Nettles, $36,000 Dr.; King, $132,000 Cr.; and Tanaka, $98,000 Cr. If Nettles is personally bankrupt and unable to pay any of the $36,000, what will be the amount of cash received by King and Tanaka upon liquidation? If an amount is zero, enter in O. Use the minus sign to indicate any deficiencies. Amount of Cash Received Nettles -36,000 $ King 13,200 Capital balances after realization $ Tanaka 98,000 $ Distribution of partner deficiency Capital balances after deficiency distribution