06 The NOR Partnership is being liquidated. A balance sheet prepared prior to liquidation is presented below: Assets Liabilities & Equities Cash $240,000 Liabilities $ 160,000 Other Assets 300,000 Rice, Loan 60,000 Nutt, Capital 180,000 Ohm, Capital 60,000 Rice, Capital 80,000 Total Assets $540.000 Total Equities $540,000 Nutt, Ohm, and Rice share profits and losses in a 40:40:20 ratio. All partners are personally insolvent. Required: Calculate distribution of cash to each partner