The partnership of Luqman, Idris, and Nylah is to be liquidated as soon as possible after December 31, 2015. All cash on hand except for a $20,000 contingency balance is to be distributed at the end of each month until the liquidation. The partnership balance sheet at December 31, 2015, contains the following. A summary of liquidation events is as follows: The loan to Nylah is offset against her capital balance, the goodwill is written off. 5200,000 is collected on account, inventory items that cost $160,000 are sold for $200,000, non-owner liabilities are settled at recorded values, and cash is distributed. Equipment with book value of $80,000 is sold for $60,000, the remaining inventory items are sold for $180,000, liquidation expenses of $4,000 are paid, a liability of $8,000 is discovered and paid The land is sold for $150 000 Additional equipment is sold for $150,000, the remaining equipment and receivables are written off, and all cash on hand is distributed in final liquidation of the partnership. Prepare statement of liquidation for the LIN Partnership for January and February 2016 Also prepare supporting schedule of safe payment for January