2. Pre-distribution Schedule (Steps): Reference handout #3 Ch.15 rater, Farvard and Johns have operated a local business as a partnership for several years rtnership for several years. With the information below, create a pre-distribution schedule with the blank table. All profits and losses will be allocated in a 3:2:1 ratio or 1/2, 1/3, and 1/6 (Carter, Harvard, and John for step 1). For step 2, 6:4 ratio or 3/5 and 2/5 (Carter and Harvard). Balance Sheet Cash Noncash assets S 0 227,000 Liabilities Crater, capital Harvard, capital Johns, capital Total liabilities and capital $ 70,000 96,000 45,000 16,000 $ 227,000 Total assets $ 227,000 Complete the tabe: Crater Harvard Johns Beginning balances Assumed loss Step 1 Subtotal Assumed loss Step 2 Total