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. Cash Liabilities 120,000 $ 70,000 Noncash assets 270,000 Arch, capital (40%) 120,000 Bibb, capital (20%) Dao, capital (406) 60,000 140,000 Total assets Required: Total liabilities and $ 390,000 capital 390,000 Prepare a proposed schedule of liquidation to carry out a preliminary distribution of partnership assets at the date of termination. Note: Amounts to be deducted should be entered with a minus sign. (Ctrl) Beginning balances Pay liabilities Cash ARCH, BIBB, AND DAO PARTNERSHIP Proposed Schedule of Liquidation Date of Termination Noncash Assets Liabilities Arch, Capital 40% Bibb, Capital Dao, Capital 20% 40% Maximum liquidation expenses Initial safe payments Maximum loss-noncash assets $ 0 $ 0 $ 0 $ 0 $ 0 $ 0