The following balance sheet is for a partnership in which the partners have decided to terminate operations and liquidate assets. The partners estimate liquidation expenses will be $14,000. Liabilities $ 50,000 120,000 Cash Noncash assets $ 130,000 240,000 Arch, capital (40%) Bibb, capital (20%) Dao, capital (40%) 60,000 140,000 Total assets $370,000 Total liabilities and capital $ 370,000 aces Prepare a proposed schedule of liquidation to carry out a preliminary distribution of partnership assets at the date of termination. (Amounts to be deducted should be entered with a minus sign.) Cash ARCH, BIBB, AND DAO PARTNERSHIP Proposed Schedule of Liquidation Date of Termination Noncashi Assets Liabilities Arch, Capital 40% Bibb, Capital 20% Beginning balances Pay liabilities Max liquidation expenses Max loss-noncash assets Initial safe payments $ 0 0 $ 0 $