can you please also explain how you solve the problem.

The CDG Carlos, Dan, and Gail Partnership has decided to liquidate as of December 1, 20X6. A balance sheet on the date follows: CDG PARTNERSHIP Balance Sheet At December 1, 20X6 Assets Cash Accounts Receivable (net) Inventories Property, plant and Equipment (net) Total Assets Liabilities and Capital Liabilities: Accounts Payable Capital: Carlos, Capital $133,000 Dan, Capital 63,000 Gail, Capital 73,000 Total Capital Total Liabilities and Capital $ 31,500 88,000 113,000 326,000 $558,500 $289,500 269,000 $558,500 Additional Information 1. Each partner's personal assets (excluding partnership capital interests) and personal liabilities as of December 1, 20X6, follow: Gail Carlos Dan Personal $ 263,000 $313,000 assets Personal liabilities (236,500) (233,500) Personal net $ 26,500 $ 79,500 worth $363,000 (340,700) $ 22,300 2. Carlos, Dan, and Gail share profits and losses in the ratio 20:40:40. 3. CDG sold all noncash assets on December 10, 20X6, for $271,500. Required: a. Prepare a statement of realization and liquidation for the CDG Partnership on December 10, 20X6. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.)