on january 1 of the current year the partners of cobb, davis, and eddy, who share profits and losses in the ratio of 5:3:2, respectively, decided to liquidate their partnership. on this date the partnership condensed balance sheet was as follows: cash $ 50,000 liabilities $ 60,000 other assets $250,000 cobb, capital $80,000 $300,000 davis, capital $90,000 eddy, capital $70,000 $300,000 on january 15 of the current year the first cash sale of other assets with a carrying amount of $150,000 realized $120,000. safe installment payments to the partners were made on the same date. how much cash should be distributed to each partner?
