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The partners of Blossom Company have decided to liquidate their business. Noncash assets were sold for $130,900. The income ratios of the partners Cisneros,

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The partners of Blossom Company have decided to liquidate their business. Noncash assets were sold for $130,900. The income ratios of the partners Cisneros, Gunselman, and Forren are 3:2:3, respectively. Complete the following schedule of cash payments for Blossom Company. (If an amount reduces the account balance then enter with a negative sign preceding the number eg.-15,000 or parenthesis eg. (15,000).) Item Balance before liquidation Cash Noncash Assets Liabil $15,000 $97,500 Sale of noncash assets and allocation of gain New balances Pay liabilities New Balances Cash distribution to partners Final balances $ $

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