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	$	120,000
Other assets		800,000			Ferris, loan		51,000
Hardwick, loan		41,000			Hardwick, capital		350,000
					Saunders, capital		210,000
					Ferris, capital		200,000
Total assets	$	931,000			Total liabilities and capital	$	931,000

The partners decide to liquidate the partnership. Fifty percent of the other assets are sold for $200,000. 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 Other Accounts Hardwick, Cash Loan and Assets Payable Capital Saunders, Ferris, Loan Capital & Capital Beginning balances Sold assets Assumed: loss on remaining assets Paid liabilities Safe balances