1. A partnership has the following capital balances: A ( 20% of profits and losses) $ 100,000 B ( 30% of profits and losses) $ 120,000 C (50% of profits and losses) $ 180,000 If the partnership is to be liquidated and $ 30,000 becomes immediately available, who gets that money? Show your work: 2. The following balance sheet is for a local partnership in which the partners have become very unhappy with each other. A, Capital $100,000 B, Capital $120,000 C, Capital $180,000 Reported Balances Assumed $370,000 loss Potential balances Potential loss from C's deficit Current cash distribution "The split is 20/30 or 40%/60%