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 Other assets Hardwick, loan 89.000 795,000 40,000 Accounts payable Ferris, loan Hardwick, capital Saunders, capital Ferris, capital Total liabilities and capital $ 144,000 50,000 340,000 200,000 190,000 $ 924,000 Total assets $ 924.000 The partners decide to liquidate the partnership. Fifty percent of the other assets are sold for $225,000. Prepare a proposed schedule of liquidation at this point in time. HARDWICK, SAUNDERS, AND FERRIS Proposed Schedule of Liquidation Other Hardwick, Accounts Cash Loan and Assets Payable Capital Saunders, Capital Ferris, Loan & Capital Beginning balances Sold assets Assumed: loss on remaining assets Paid liabilities Safe balances