Turner, Roth, and Lowe are partners who share income and loss in a 1:4:5 ratio. After lengthy disagreements among the partners and several unprofitable periods, the partners decide to liquidate the partnership. Immediately before liquidation, the partnership balance sheet shows total assets, $105,000; total liabilities, $78,750; Turner, Capital, $2,000; Roth, Capital, $14,500; and Lowe, Capital, $9,750. The cash proceeds from selling the assets were sufficient to repay all but $27,000 to the creditors. Liabilities before liquidation Proceeds from sale of assets (paid to creditors) Remaining liabilities Proceeds from sale of assets Book value of assets sold