The ABC partnership reports the following condensed balance sheet:

Cash	$63,000		Liabilities	$100,000
Noncash assets	160,000		Partner A, capital	56,500
			Partner B, capital	56,500
			Partner C, capital	10,000
Total assets	$223,000		Total liabilities and partner capital	$223,000

The partners wish to liquidate the partnership. The noncash assets are sold for $125,000 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. Assume that any partners with a negative balance in their respective Capital Accounts are insolvent and, therefore, do not make any capital contribution to the partnership (i.e., remaining partners must absorb the negative Capital Account according to their profit sharing formula). Prepare a schedule detailing the liquidation of the assets, repayment of the liabilities, and distribution of the remaining cash to the partners.

Note: Use a negative sign with answers that reduce account balances or to indicate a negative account balance. Otherwise, do not use negative signs with your answers.