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 $17,000. Cash Noncash assets $ 140,000 250,000 Liabilities Arch, capital (40%) Bibb, capital (20%) Dao, capital (40%) Total assets $ 390,000 Total liabilities and capital $ 60,000 120,000 60,000 150,000 $ 390,000 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.) Beginning balances Pay liabilities Max. liquidation expenses ARCH, BIBB, AND DAO PARTNERSHIP Proposed Schedule of Liquidation Date of Termination Noncash Cash Liabilities Assets Arch, Capital Bibb, Capital Dao, Capital 40% 20% 40% Max. loss noncash assets Initial safe payments $ 0 $ 0 $ 0 $ 0 $ 0 $ 0