The CDG Carlos, Dan, and Gail Partnership has decided to liquidate as of December 1, 20x6. A balance sheet on the date follows $ 25,000 75,000 100,000 300,000 $500,000 CDG PARTNERSHIP Balance Sheet At December 1, 2006 Assets Cash Accounts Receivable (net) Inventories Property, plant and Equipment (net) Total Assets Liabilities and Capital Liabilities: Accounts Payable Capital: Carlos, Capital Dan, Capital Gail, Capital al Capital Total Liabilities and Capital $ 270,000 $120,000 50,000 60.000 230,000 $500,000 Additional Information 1. Each partner's personal assets (excluding partnership capital interests) and personal liabilities as of December 1, 20X6, follow Statement of Relation and on Lumpsum Liquidation on December 10, 2036 Cash Noncah Aset Liabile Carlos Tan Preliquidation balances Sale of assets and distribution of loss Cash contributed by Gail to extent of positive net worth Distribution of deficit of insolvent partner Contribution by Dan to remedy deficit Payment to creditors Payment to partner Postliquidation balances b. Prepare a schedule of the net worth of each of the three partners as of December 10, 2006, after the liquidation of the partnership is completed assuming that no other events occurred in the 10 day period that changed any of the partners personal assets and personal liabilities (Round your answers to the nearest whole dollar.) CDG PARTNERSHIP Net Worth of Partners December 10, 20X6 Carlos Dan Gall Personal assets, excluding partnership capital interests Personal liabilities Personal net worth, excluding partnership capital interests, Dec. 1. 20X6 Contribution to partnership Liquidating distribution from partnership Net worth December 10, 20X6