hardin, sutton, and williams have operated a local business as a partnership for several years. all profits and losses have been allocated in a 30% : 30% : 40% ratio, respectively. the following balance sheet has been produced: cash $10,000 liabilities $80,000 noncash assets 227,000 hardin, capital 96,000 sutton, capital 45,000 williams, capital 16,000 total assets $237,000 total liabilities and capital $237,000 during the liquidation process, the following transactions take place: - noncash assets are sold for $216,000. - liquidation expenses of $12,000 are paid. no further expenses are expected. prepare the journal entries for the sale of noncash assets, payment of liquidation expense, and payment of liabilities.