Alocal partnership is to be liquidated. Commissions and other liquidation expenses are expected to total $19,000. The business’s balance sheet prior to the commencement of liquidation is as follows:

Cash.$ 27,000 Noncash assets. 254,000 Total assets. $281,000 Liabilities. $ 40,000 Simpson, capital (20%). 18,000 Hart, capital(40%). 40,000 Bobb, capital (20%). 48,000 Reidl, capital (20%). 135,000 Total liabilities and capital .... $281,000 Prepare a predistribution schedule for this partnership.

 LO6