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 $ 85,000 Accounts payable Ferris, loan Hardwick, capital Saunders, capital Ferris, capital $ 156,000 50,000 300,000 220,000 210,000 $ 936,000 800,000 51,000 Total assets $ 936,000 Total liabilities and capital The partners decide to liquidate the partnership. Forty percent of the other assets are sold for $210,000. Prepare a proposed schedule of liquidation at this point in time HARDWICK, SAUNDERS, AND FERRIS Proposed Schedule of Liquidation Other Assets Hardwick Loan andSaunders, Ferris, Loan & Capital Cash Payable Capital Capital Beginning balances Sold assets Assumed loss on remaining assets Paid liabilities Safe balances