Use the data in Exhibit 12-5. Suppose the partnership of Lauren, Andrews, and Benroudi liquidates by selling all noncash assets for $80,000. Complete the liquidation schedule as shown in Exhibit 12-5.

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Capital Andrews Lauren Benroudi Cash + Noncash Assets-Liabilities + (60%) + (20%) + $10,000 150,000 (20%) Balances before sale of assets $90,000 $30,000 S40,000 $%20,000 $10,000 1Sale of assets and sharing of gain (90,000) 36,000 76,000 12,000 12,000 22,000 160,000 30,000 32,000 2 Payment of Balances 3 Disbursement of liabilities (30,000) (30,000) 130,000 76,000 32,000 22,000 cash to partners (130,000) (76,000) (32,000) (22,000)