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	$	88,000			Accounts payable	$	158,000
Other assets		790,000			Ferris, loan		49,000
Hardwick, loan		39,000			Hardwick, capital		330,000
					Saunders, capital		230,000
					Ferris, capital		150,000
Total assets	$	917,000			Total liabilities and capital	$	917,000

The partners decide to liquidate the partnership. Fifty percent of the other assets are sold for $290,000. 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
Max loss on remaining noncash assets
Paid liabilities
Safe payments