The CDG Carlos, Dan, and Gail Partnership has decided to liquidate as of December 1, 20X6. A balance sheet on the date follows: Assets Cash Accounts Receivable (net) Inventories Property, Plant and Equipment (net) Total Assets Liabilities and Capital Liabilities: Accounts Payable Capital: Carlos, Capital Dan, Capital Gail, Capital Total Capital Total Liabilities and Capital CDG PARTNERSHIP Balance Sheet At December 1, 20x6 Personal assets Personal liabilities Personal net worth Additional Information 1. Each partner's personal assets (excluding partnership capital interests) and personal liabilities as of December 1, 20X6, follow: Preliquidation balances Sale of assets and distribution of loss Cash contributed by Gail to extent of positive net worth Distribution of deficit of insolvent partner Contribution by Dan to remedy deficit Payment to creditors Carlos $ 266,000 (238,000) $ 28,000 Payment to partner Postliquidation balances $136,000 66,000 76,000 2. Carlos, Dan, and Gail share profits and losses in the ratio 15:45:40. 3. CDG sold all noncash assets on December 10, 20X6, for $274,500. Required: a. Prepare a statement of realization and liquidation for the CDG Partnership on December 10, 20X6. (Do not round your intermediate calculations, Round your final answers to the nearest whole dollar.) Dan $316,000 (232,000) $ 84,000 Liquidating distribution from partnership Net worth December 10, 20X6 $ $ S CDG PARTNERSHIP Statement of Realization and Liquidation Lump-sum Liquidation on December 10, 20X6 $ $ $ 33,000 91,000 116,000 332,000 $572,000 $ $294,000 278,000 $572,000 Cash Personal assets, excluding partnership capital interests Personal liabilities Personal net worth, excluding partnership capital interests, Dec. 1, 20X6 Contribution to partnership CDG PARTNERSHIP Net Worth of Partners December 10, 20X6 Gail $366,000 (345,500) $ 20,500 Noncash Assets Liabilities 0 $ 0$ 0 $ 0 $ 0$ 0 $ $ $ 0 S Carlos 0 $ 0 S 0 $ 0 $ 0 S 05 OS Dan 0S Carlos 0$ 0S 0 $ 0 $ 0$ 0$ 0 $ Gall O Capital Balances b. Prepare a schedule of the net worth of each of the three partners as of December 10, 2006, after the liquidation of the partnership is completed assuming that no other events occurred in the 10-day period that changed any of the partners personal assets and personal liabilities. (Round your answers to the nearest whole dollar.) 0 0 S 0 S 05 0 $ 0S 0 $ Dan 0 S 0 S 0 $ 0 S 0 S 0 S 0 0 0 0 0