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 $ 98,000 840,000 49,000 Accounts payable Ferris, loan Hardwick, capital Saunders, capital Ferris, capital Total liabilities and capital $ 78,000 59,000 360,000 250,000 240,000 $ 987,000 Total assets $987,000 The partners decide to liquidate the partnership. Forty percent of the other assets are sold for $116,000. 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 Max loss on remaining noncash assets Paid liabilities $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 Safe payments $ 0 $ 0 $ 0 $ 0 $ 0 $ 0