4. Part 2 of 2 Required information [The following information applies to the questions displayed below] The partnership of Butler, Osman, and Ward was formed several years ago as a local tax preparation firm. Two partners have reached retirement age, and the partners have decided to terminate operations and liquidate the business. Liquidation expenses of $52,000 are expected. The partnership balance sheet at the start of liquidation is as follows: 8.33 points eBook Cash Accounts receivable Office equipment (net) Building (net) Land Total assets $ 48,888 78,888 68,000 280,00 192,880 $ 584,080 Liabilities Butler, loan Butler, capital (25%) Osman, capital (25) Ward, capital (58) Total liabilities and capital $ 188,888 48,888 140.ee 48,888 160,000 $ 584,080 Print References Prepare a predistribution plan for this partnership. Butler, Loan and Capital Osman, Capital Ward, Capital Beginning balances Assumed loss of Schedule 1 Step one balances Assumed loss of Schedule 2 Step two balances $ 0 $ 0 S 0 $ 0 $ 0 S 0