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: 5 $ Cash Other assets Hardwick, loan 89,000 820,000 55,000 Accounts payable Ferris, loan Hardwick, capital Saunders, capital Ferris, capital Total liabilities and capital 60,000 54,000 340,000 260,000 250,000 $ 964,000 Total assets $ 964,000 The partners decide to liquidate the partnership. Forty percent of the other assets are sold for $115,000. 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 Hardwick, Cash Other Accounts Loan and Assets Payable Capital Saunders, Capital Ferris, Loan & Capital Beginning balances Sold assets Assumed loss on remaining assets Paid liabilities Safe balances