Trish Craig and Ted Smith have a blo-energy and consulting business and share profit and losses in a 3:1 ratio. They decide to liquidate their partnership on December 31, 2020, when the balance sheet shows the following: Craig and Smith Consulting Balance Sheet December 31, 2020 Assets Cash Property, plant and equipment $ 92,900 Less: Accumulated depreciation Total assets Liabilities Accounts payable Equity Trish Craig, capital $518,700 200,900 317,800 $410,700 $52,100 $246,500 Ted Smith, capital 112,100 Total equity 358,600 Total liabilities and equity $410,700