A partnership is considering possible liquidation because one of the partners $($Bell$)$ is personally insolvent. Profits and losses are divided on a $4$:$3$:$2$:$1$ basis, respectively. Capital balances at the current time are

Bell, capital $ $83,500$

Hardy, capital $69,000$

Dennard, capital $16,000$

Suddath, capital $93,000$

Bell$$s creditors have filed a $$34,000$ claim against the partnership$$s assets. The partnership currently holds assets of $$430,000$ and liabilities of $$168,500.$ An independent appraiser indicates that the assets can be sold for $$255,000.$

Required:

Prepare a statement of partnership liquidation to determine the amount of cash that Bell would receive from the sale of partnership assets.