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 $ 140,000 Noncash assets 290,000 Liabilities Arch, capital (40%) Bibb, capital (20%) Dao, capital (40%) Total assets $ 430,000 Total liabilities and capital $ 70,000 130,000 65,000 165,000 $ 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.) ARCH, BIBB, AND DAO PARTNERSHIP Proposed Schedule of Liquidation Date of Termination Noncash Cash Assets $ 130,000 (50,000) Liabilities Arch, Capital 40% Bibb, Capital Dao, Capital 20% 40% Beginning balances Pay liabilities Max. liquidation expenses Max. loss-noncash assets Initial safe payments $ 80,000 $ 0 $ 0 $ 0 $ 0 $ 0