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	$	85,000			Accounts payable	$	160,000
Other assets		775,000			Ferris, loan		46,000
Hardwick, loan		36,000			Hardwick, capital		300,000
					Saunders, capital		200,000
					Ferris, capital		190,000
Total assets	$	896,000			Total liabilities and capital	$	896,000

The partners decide to liquidate the partnership. Forty percent of the other assets are sold for $260,000. Prepare a proposed schedule of liquidation at this point in time. (Amounts to be deducted should be entered with a minus sign.)

HARDWICK, SAUNDERS, AND FERRIS Proposed Schedule of Liquidation Hardwick, Other 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 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0