The following condensed balance sheet is for the partnership of Hardwick, Saunders, and Ferris, who share profits and losses in the ratio of 4:3:3, respectively:

Cash	$81,000	Accounts payable	$256,000
Other assets	755,000	Ferris, loan	42,000
Hardwick, loan	32,000	Hardwick, capital	260,000
		Saunders, capital	160,000
		Ferris, capital	150,000
Total assets	$868,000	Total liabilities and capital	$868,000

The partners decided to liquidate the partnership. Fifty percent of the other assets are sold for $250,000. Prepare a proposed schedule of liquidation at this point in time.

HARDWICK, SAUNDERS, AND FERRIS
Proposed Schedule of Liquidation
	Cash	Other Assets	Accounts Payable	Hardwick, Loan and Capital	Saunders, Capital	Ferris, Loan and Capital
Beginning Balances
Sold assets
Assumed: Loss on Remaining Assets
Paid Liabilities
Safe Balances