TRUMP, CLINTON AND OBAMA HAVE BEEN PARTNERS IN THE HUMBLE LAW FIRM FOR MANY YEARS. TRUMP AND OBAMA ARE 40% PARTNERS WHILE CLINTON WAS A 20% PARTNER. THEIR BALANCE SHEET ON DECEMBER 31, 2015 IS AS FOLLOWS:

CASH $100,000

ACCTS REC. $200,000

INVENTORY $100,000

EQUIPMENT $500,000

A/D EQUIP. ($200,000)

LAND $400,000

TOTAL ASSETS $1,100,000

ACCTS PAY $200,000

TRUMP CAPITAL $500,000

OBAMA CAPITAL $300,000

CLINTON, CAPITAL $100,000

On January 1, 2016 they have announced the termination of their partnership.

What if any safe payments can each of the partners take on January 1?

On January 15^th the partnership sells all of its account receivables to a bank for $150,000. If no partner took a safe payment on January 1, what if any safe payments can each of the partners take on January 15^th?

On January 23^rd, the partnership sells the inventory for $125,000. If no partner has taken a safe payment, how much could each take on January 23^rd?

On January 30^th, the partnership sells the equipment for $180,000 and pays off the account payable. If no partner has taken any safe payments up to now, what safe payments can each partner take on January 30^th?

On February 10^th the partnership sells the land for $280,000 and ends the partnership. Assuming all partners have plenty of other assets to cover any shortages in their partnership account, how much will each partner collect (or pay) at the termination of the partnership?

Using the information in part e, if any partner with a negative capital account cannot cover it, how much does each partner collect at the termination of the partnership?