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				$	33,500
Accounts Receivable (net)					92,000
Inventories					117,000
Property, Plant and Equipment (net)					334,000
Total Assets				$	576,500
Liabilities and Capital
Liabilities:
Accounts Payable				$	302,000
Capital:
Carlos, Capital	$	137,000
Dan, Capital		67,000
Gail, Capital		70,500
Total Capital					274,500
Total Liabilities and Capital				$	576,500

Additional Information

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

	Carlos			Dan			Gail
Personal assets	$	267,000		$	317,000		$	367,000
Personal liabilities		(238,500	)	(	231,500	)		(336,000	)
Personal net worth	$	28,500		$	85,500		$	31,000

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

3.	CDG sold all noncash assets on December 10, 20X6, for $275,000.

Required:

a.	Prepare a statement of realization and liquidation for the CDG Partnership on December 10, 20X6.