The partnership of May, Novem, and Octo was dissolved. By August 1, 2014, all assets had been converted into cash and all partnership liabilities were paid. The partnership balance sheet on August 1, 2014 (with partner residual profit and loss sharing percentages) was as follows:

Cash	$100,000		May, capital (30%)	$8,000
			Novem, capital (20%)	(120,000)
			Octo, capital (50%)	212,000
Total assets	$100,000		Total equity	$100,000

The value of partners' personal assets and liabilities on August 1, 2014 were as follows:

	May	Novem	Octo
Personal assets	$148,000	$240,000	$112,000
Personal liabilities	144,000	160,000	120,000

Required:

Prepare the final statement of partnership liquidation.