The partnership of Edmonds. Beatty. and Elder has elected to cease all operations and liquidate its business property. A balance sheet drawn up at this time shows the following account balances: Cash $105.600 Liabilities $??.000 Noncash assets 369.400 Frick. capital (60%) 222.200 Wilson. capital (20%) 61.600 Clarke. capital (20%) 134.200 Total assets $495.000 Total liabilities and $495.000 capital The following transactions occur in liquidating this business: - Distributed safe capital balances immediately to the partners. Liquidation expenses of $19.600 are estimated as a basis for this computation. - Sold noncash assets with a book value of$176.000 for $105.600. - Paid all liabilities. - Distributed safe capital balances again. - Sold remaining noncash assets for $96600. - Paid liquidation expenses of $15.400. - Distributed remaining cash to the partners and closed the nancial records of the business permanently