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The partners of Ivanhoe Company have decided to liquidate their partnership. Noncash assets were sold for $100,000. The income ratios of the partners Cisneros, Gunselman,

The partners of Ivanhoe Company have decided to liquidate their partnership. Noncash assets were sold for $100,000. The income ratios of the partners Cisneros, Gunselman, and Forren are 3:2:3, respectively. Complete the following schedule of cash payments for Ivanhoe Company. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Cash Noncash Assets Liabilities Cisneros, Capital Gunselman, Capital Forren, Capital

Balances before liquidation

$12,000 $72,000 $32,000 $16,000 $25,600 $10,400

Sale of noncash assets and allocation of gain

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount

New balances

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount

Pay liabilities

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount

New balances

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount

Cash distribution to partners

enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount enter a dollar amount

Final balances

$enter a final balance $enter a final balance $enter a final balance

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