4. A partnership held three assets: Cash, $13,000; Land, $45,000; and a Building, $65,000. The partners anticipated that expenses required to liquidate their partnership would amount to $6,000. Capital balances were as follows: King, Capital: $32,700 Murphy, Capital: 36,400 Madison, Capital: 26,000 Pond; Capital: 27,900 The partners shared profits and losses 30:30:20:20, respectively. Required: If a preliminary distribution of cash was to be made, how much would each of the partners have 4. A partnership held three assets: Cash, $13,000; Land, $45,000; and a Building, $65,000. The partners anticipated that expenses required to liquidate their partnership would amount to $6,000. Capital balances were as follows: King, Capital: $32,700 Murphy, Capital: 36,400 Madison, Capital: 26,000 Pond; Capital: 27,900 The partners shared profits and losses 30:30:20:20, respectively. Required: If a preliminary distribution of cash was to be made, how much would each of the partners have