. The ABC partnership reports the following condensed balance sheet:

Cash	$1,010,000		Liabilities	$1,600,000
Noncash assets	2,550,000		Partner A, capital	900,000
			Partner B, capital	900,000
			Partner C, capital	160,000
Total assets	$3,560,000		Total liabilities and partner capital	$3,560,000

The partners wish to liquidate the partnership. The noncash assets are sold for $2,000,000 with the loss distributed to the partners in the ratio of 30%/30%/40% to partner A, B, and C, respectively. The liabilities are paid in full. Partners make any capital contribution that is necessary to offset a negative balance in their respective Capital Accounts.

Required: Prepare a schedule detailing the liquidation of the assets, repayment of the liabilities, and distribution of the remaining cash to the partners.