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 88,000 815,000 54,000 Accounts payable Ferris, loan Hardwick, capital Saunders, capital Perris, capital Total liabilities and capital $ 84,000 53,000 330,000 250,000 240,000 $ 957,000 Total assets $ 957,000 The partners decide to liquidate the partnership. Forty percent of the other assets are sold for $135,000. Prepare a proposed schedule of liquidation at this point in time. HARDWICK, SAUNDERS, AND FERRIS Proposed Schedule of Liquidation Cash Other Accounts Hardwick, Assets Loan and Payable Capital Saunders, Capital Ferris, Loan & Capital Beginning balances Sold assets Assumed: loss on remaining assets Paid liabilities Safe balances