$3)$ The partnership of Georgia, Holly, and Izzy was dissolved, and by July $1,2014,$ all assets had been converted into cash and all partnership liabilities were paid. The partnership balance sheet on July $1,2014($with partner residual profit and loss sharing percentages$)$ was as follows:

Cash $ $10,000$ Georgia, capital $(40\%)$ $ $(20,000)$

Holly, capital $(30\%)(10,000)$

Izzy, capital $(30\%)40,000$

Total assets $ $10,000$ Total liab.$/$equity $ $10,000$

The value of the partners' personal assets and liabilities on July $1,2014$ were as follows:

Georgia Holly Izzy

Personal assets $ $45,000$ $ $30,000$ $ $25,000$

Personal liabilities $30,00020,00010,000$

Required:

Prepare the final statement of partnership liquidation.