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 $ 80,000 750,000 31,000 Accounts payable Ferris, loan $280,000 41,000 Hardwick, capital Saunders, capital 250,000 150,000 Ferris, capital 140,000 Total assets $861,000 Total liabilities and capital $861,000 The partners decide to liquidate the partnership. Fifty 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 Cash Other Assets Accounts Payable Hardwick, Loan and Capital Saunders, Capital Ferris, Loan & Capital Beginning balances Sold assets Adjusted balances $ 0 S 0 $ 0 $ 0 S 0 $ 0 Max loss on remaining noncash assets Paid liabilities Safe payments $ 0 S 0 $ 0 $ 0 S 0 $ 0