The partnership of Larson, Norris, Spencer, and Harrison has decided to terminate operations and liquidate all business property. During this process, the partners expect to incur $8,000 in liquida¬ tion expenses. All partners are currently solvent.

The balance sheet reported by this partnership at the time that the liquidation commenced fol¬ lows. The percentages indicate the allocation of profits and losses to each of the four partners.

Cash.$ 28,250 Accounts receivable . 44,000 LO6 Inventory. 39,000 Land and buildings. 23,000 Equipment. 104,000 Total assets. $238,250 Liabilities. $ 47,000 Larson, capital (20%). 15,000 Norris, capital (30%). 60,000 Spencer, capital (20%). 75,000 Harrison, capital (30%). 41,250 Total liabilities and capital .... $238,250 Based on the information provided, prepare a predistribution plan for liquidating this partnership.