Sedgwick Company at December 31 has cash $20,000, noncash assets
$100,000, liabilities $55,000, and the following capital balances: Floyd
$45,000 and DeWitt $20,000. The firm is liquidated, and $105,000 in
cash is received for the noncash assets. Floyd and DeWitt income ratios are 60%
and 40%, respectively.
Prepare a schedule of cash payments.(If an amount reduces the account balance
then enter with a negative sign preceding the number e.g. -15,000 or
parenthesis e.g. (15,000).)