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 assets $924,000 Total liabilities and capital $144,000 50,000 340,000 200,000 190,000 $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. (Amounts to be deducted should be entered with a minus sign.) HARDWICK, SAUNDERS, AND FERRIS Proposed Schedule of Liquidation Beginning balances Sold assets Adjusted balances Max loss on remaining noncash assets Paid liabilities Safe payments Cash Other Assets Accounts Payable Hardwick, Loan and Capital Saunders, Capital Ferris, Loan & Capital