The CRT partnership has decided to terminate operations and to liquidate the partnership assets. There are no partner loans, and all partners have positive capital balances. Gains and losses on liquidation and cash distributions to partners should be allocated as follows: 
Definitions:
Statement of Cash Flows
A financial statement that summarizes the amount of cash and cash equivalents entering and leaving a company, showing how the company's operations are running, where its money is coming from, and how it is being spent.
Indirect Method
A way of presenting the cash flow statement where net income is adjusted for non-cash transactions, depreciation, and changes in working capital to calculate cash flow from operating activities.
Operating Activities
Operating activities involve the day-to-day functions that are directly related to producing and delivering a company's goods and services, contributing to cash inflows and outflows during a period.
Statement of Cash Flows
A financial report that provides aggregate data regarding all cash inflows a company receives from its ongoing operations and external investment sources, as well as all cash outflows that pay for business activities and investments during a given period.
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