CALCULATOR PRINTER VERSION BACK NEXT Exercise 16-5 Following is the balance sheet of the BDO Partnership: SI Cash Accounts Receivable Inventory Equipment $11,000 42,000 28,000 54,000 $135,000 Liabilities Brink, Capital Davis, Capital Olsen, Capital $13,000 46,000 28,000 48,000 $135,000 The partners share income 40:40:20, respectively. Assume that 70% of the receivables are collected and that inventory with a book value of $16,000 is sold for $12,000. All cash available at this time is to be distributed. Determine the proper distribution of cash, using the safe payment approach. (Round answers to o decimal places, e.g. 5,125. Enter credit balance of an account and credit posting to an account with negative sign preceding the number, e.g. -45 or parentheses, e.g. (45).) Noncash Assets Brink 40% Capital Balances Davis 40% Olsen 20% Cash Liabilities Account Balances Sale of Inventory, Collect Accounts Receivable | Payment to Creditors Payment to Partners LINK TO TEXT