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 $ 90,000 Accounts payable $ 210,000 Other assets 820,000 Ferris, loan 40,000 Hardwick, loan 30,000 Hardwick, capital 300,000 Saunders, capital 200,000 Ferris, capital 190,000 Total assets $ 940,000 Total liabilities and capital $ 940,000

The partners decide to liquidate the partnership. Forty percent of the other assets are sold for $200,000. Prepare a proposed schedule of liquidation at this point in time.