tnership Liquidation Saved Help S Required 1 Inventory Required 1 GJ Required 2Required 2 GJ Inventony 2 Required 3 Inventory Required 3 G Required 4 Inventory Required GJ Complete the schedule allocating the gain or loss on the sale of inventory $297,00 and the partners have no assets oth invested in the partnership. Step 1) Determination of gain (loss) Proceeds from the sale of inventory Inventory Cost $ 297,000 ces p2) Allocation of the gain (loss) to the partners and distribution of deficitls) KENDRA COGLEY ME Total Initial capital balances $ 76,700 S 172,575 S 134 225 $ 383,500 Allocation of gains (losses) Capital balances after gains (losses) Allocation of deficit balance Capital balances after deficit allocation Required 3GJ Required 4 GJ>