CALCULATOR PRINTER VERSION BACK Exercise 12-08 (Video) Oriole Company at December 31 has cash $23,100, noncash assets $101,000, liabilities $50,400, and the following capital balances: Floyd $46,800 and DeWitt $26,900. The firm is liquidated, and $112,000 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).) ORIOLE COMPANY Schedule of Cash Payments Noncash DeWitt, Liabilities +Floyd, CapitalCapital CashAssets Item Balances before $46,800 $26,900 $101,000 $50,400 $23,100 iquidationn Sale of noncash assets and allocation of 101000 112000 gain New balances 0 51485 135100 Pay liabilities 50400 New distibution