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				$	29,000
Accounts Receivable (net)					83,000
Inventories					108,000
Property, Plant and Equipment (net)					316,000
Total Assets				$	536,000
Liabilities and Capital
Liabilities:
Accounts Payable				$	282,000
Capital:
Carlos, Capital	$	128,000
Dan, Capital		58,000
Gail, Capital		68,000
Total Capital					254,000
Total Liabilities and Capital				$	536,000

Additional Information

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

	Carlos				Dan				Gail
Personal assets	$	258,000			$	308,000			$	358,000
Personal liabilities		(234,000	)		(	236,000	)			(332,700	)
Personal net worth	$	24,000			$	72,000			$	25,300

2. Carlos, Dan, and Gail share profits and losses in the ratio 20:40:40.
3. CDG sold all noncash assets on December 10, 20X6, for $269,600.

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.)

CDG PARTNERSHIP
Statement of Realization and Liquidation
Lump-sum Liquidation on December 10, 20X6
				Capital Balances
	Cash	Noncash Assets	Liabilities	Carlos	Dan	Gail
Preliquidation balances	$29,000		$282,000	$128,000	$58,000	$68,000
Sale of assets and distribution of loss	269,600		0	53,920	107,840	107,840
	$298,600	$0	$282,000	$74,080	$(49,840)	$(39,840)
Cash contributed by Gail to extent of positive net worth	25,300		0			25,300
	$323,900	$0	$282,000	$74,080	$(49,840)	$(14,540)
Distribution of deficit of insolvent partner	0
	$323,900	$0	$282,000	$74,080	$(49,840)	$(14,540)
Contribution by Dan to remedy deficit
	$323,900	$0	$282,000	$74,080	$(49,840)	$(14,540)
Payment to creditors
	$323,900	$0	$282,000	$74,080	$(49,840)	$(14,540)
Payment to partner
Postliquidation balances	$323,900	$0	$282,000	$74,080	$(49,840)	$(14,540)

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