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 $19,000. Cash Noncash assets $ 125, eee 260, eee Liabilities Arch, capital (40%) Bibb, capital (20%) Dao, capital (40%) Total liabilities and capital $ 60, eee 125, eee 62,5ee 137,500 $ 385, eee Total assets $ 385, eee 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.) ARCH, BIBB, AND DAO PARTNERSHIP Proposed Schedule of Liquidation Date of Termination Cash Noncash Arch, Capital Liabilities Assets 40% 125,000 $ 260.000 $ 60,000 $ 125.000 (60,000) (60,000) Bibb, Capital Dao, Capital 20% 40% S 62,500 $ 137,500 $ Beginning balances Pay liabilities Max. liquidation expenses Max. loss - noncash assets Initial safe payments S 65,000 $ 260,000 S 0 S 125,000 S 62,500 S 137,500