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 $12,000.

Cash	$	130,000		Liabilities	$	70,000
Noncash assets		270,000		Arch, capital (40%)		125,000
				Bibb, capital (20%)		62,500
				Dao, capital (40%)		142,500
Total assets	$	400,000		Total liabilities and capital	$	400,000

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.)