The Sheridan Company at December 31 has the following account balances. THE SHERIDAN COMPANY Item Cash + Noncash Assets Liabilities + Ho, Capital Li, Capital Balances before liquidation $16,500 $121,000 $66,000 $44,000 $27.500 Your answer is partially correct. Cash of $121,000 is received for the noncash assets. Ho's and Li's income ratios are 60% and 40%, respectively. Calculate how much cash each partner will receive on the liquidation of the partnership assuming any deficiencies are paid by the partners. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45)) Ho, Capital LI, Capital Distribution of cash to partners 42900 28600 Total 71500 i The Sheridan Company at December 31 has the following account balances. THE SHERIDAN COMPANY Item Cash + Noncash Assets Liabilities + Ho, Capital Li, Capital Balances before liquidation $16,500 $121,000 $66,000 $44,000 $27.500 Your answer is partially correct. Cash of $121,000 is received for the noncash assets. Ho's and Li's income ratios are 60% and 40%, respectively. Calculate how much cash each partner will receive on the liquidation of the partnership assuming any deficiencies are paid by the partners. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45)) Ho, Capital LI, Capital Distribution of cash to partners 42900 28600 Total 71500 i