Complete the schedule allocating the gain or loss on the sale of inventory $267,000 and partners...

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Complete the schedule allocating the gain or loss on the sale of inventory $267,000 and partners with deficits do not pay their deficits. Step 1) Determination of gain (loss) Proceeds from the sale of inventory Inventory cost Loss on sale $ 267,000 549,600 $ (282,600) Step 2) Allocation of the gain (loss) to the partners and distribution of deficit(s) COGLEY Initial capital balances Allocation of gains (losses) Capital balances after gains (losses) Allocation of deficit balance Capital balances after deficit allocation KENDRA Total 3/6 $ 75,000 (141,300) (66,300) 66,300 $ 168,750 2/6 (94,200) 74,550 2/3 0 1/3 $ 0 $ 74,550 $ 1/6 (47,100) 84,150 0 66,300 84,150 $158,700 $ 131,250 $ 375,000 (282,600) 92,400 Complete the schedule allocating the gain or loss on the sale of inventory $267,000 and partners with deficits do not pay their deficits. Step 1) Determination of gain (loss) Proceeds from the sale of inventory Inventory cost Loss on sale $ 267,000 549,600 $ (282,600) Step 2) Allocation of the gain (loss) to the partners and distribution of deficit(s) COGLEY Initial capital balances Allocation of gains (losses) Capital balances after gains (losses) Allocation of deficit balance Capital balances after deficit allocation KENDRA Total 3/6 $ 75,000 (141,300) (66,300) 66,300 $ 168,750 2/6 (94,200) 74,550 2/3 0 1/3 $ 0 $ 74,550 $ 1/6 (47,100) 84,150 0 66,300 84,150 $158,700 $ 131,250 $ 375,000 (282,600) 92,400