1.     The partnership of Brandon and Ryan is being liquidated. All gains and losses are shared in a 3:1 ratio, respectively. Before liquidation, their balance sheet balances are as follows:

Cash                          $10,000

Other Assets            8,000

Liabilities                 4,000

Brandon, Capital     7,000

Ryan, Capital                                  7,000

a.     If the Other Assets are sold for $10,000, how much will each partner receive before paying liabilities and distributing the remaining assets?

b.     If the Other Assets are sold for $8,000, how much will each partner receive before paying liabilities and distributing remaining assets?