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	$	94,000			Accounts payable	$	24,000
Other assets		820,000			Ferris, loan		55,000
Hardwick, loan		45,000			Hardwick, capital		390,000
					Saunders, capital		250,000
					Ferris, capital		240,000
Total assets	$	959,000			Total liabilities and capital	$	959,000

The partners decide to liquidate the partnership. Forty percent of the other assets are sold for $110,000. Prepare a proposed schedule of liquidation at this point in time. (Amounts to be deducted should be entered with a minus sign.)

I need help figuring this problem out. Thank you

Beginning balances Sold assets Adjusted balances Max loss on remaining noncash assets Paid liabilities Safe payments HARDWICK, SAUNDERS, AND FERRIS Proposed Schedule of Liquidation Other Accounts Hardwick, Cash Saunders, Ferris, Loan Assets Loan and Payable Capital & Capital Capital $ 94,000 $ 820,000 $ 24,000 $ 345.000 $ 250,000 $ 185,000 110,000 (328,000) 0 (87,200) (65,400) (65,400) $ 204,000 $ 492,000 $ 24,000 $ 257,800 $ 184,600 $ 119,600 0 (492,000) 0 (196,800) (87,200) (87,200)| (24,000)| 0 (24,000) 0 0 0 $ 180,000 $ 0 $ 0 $ 61,000 $ 97,400 $ 32,400