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	$	150,000		Liabilities	$	70,000
Noncash assets		280,000		Arch, capital (40%)		130,000
				Bibb, capital (20%)		65,000
				Dao, capital (40%)		165,000
Total assets	$	430,000		Total liabilities and capital	$	430,000

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.)

\begin{tabular}{|c|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{ ARCH, BIBB, AND DAO PARTNERSHIP } \\ \hline \multicolumn{7}{|c|}{ Proposed Schedule of Liquidation } \\ \hline \multicolumn{7}{|c|}{ Date of Termination } \\ \hline & Cash & \begin{tabular}{c} Noncash \\ Assets \end{tabular} & Liabilities & \begin{tabular}{c} Arch, Capital \\ 40% \end{tabular} & \begin{tabular}{c} Bibb, Capital \\ 20% \end{tabular} & \begin{tabular}{c} Dao, Capital \\ 40% \end{tabular} \\ \hline \multicolumn{7}{|l|}{ Beginning balances } \\ \hline \multicolumn{7}{|l|}{ Pay liabilities } \\ \hline \multicolumn{7}{|l|}{ Max. liquidation expenses } \\ \hline \multicolumn{7}{|l|}{ Max. loss - noncash assets } \\ \hline Initial safe payments & & & & & & \\ \hline \end{tabular}