The CDG Carlos, Dan, and Gail Partnership has decided to liquidate as of December 1, 20X6. A balance sheet on the date follows

CDG PARTNERSHIP

Balance Sheet

At December 1, 20X6

Assets

Cash

$

28,500

Accounts Receivable (net)

82,000

Inventories

107,000

Property, Plant, and Equipment (net)

314,000

Total Assets

$

531,500

Liabilities and Capital

Liabilities:

Accounts Payable

$

280,500

Capital:

Carlos, Capital

$

127,000

Dan, Capital

57,000

Gail, Capital

67,000

Total Capital

251,000

Total Liabilities and Capital

$

531,500

Additional Information

1.

Each partner's assets (excluding partnership capital interests) and personal liabilities of each partner as of December 1, 20X6, follow:

Carlos

Dan

Gail

Personal assets

$

257,000

$

307,000

$

357,000

Personal liabilities

(233,500

)

(

236,500

)

(320,000

)

Personal net worth

$

23,500

$

70,500

$

37,000

2.

Carlos, Dan, and Gail share profits and losses in the ratio 15:40:45.

3.

CDG sold all noncash assets on December 10, 20X6, for $268,400.

Required:

a.

Prepare a statement of realization and liquidation for the CDG Partnership on December 10, 20X6. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.)