5 A partnership held three assets: Cash $ 60,000 Land $ 51,000 Building $ 63,000 and liabilities were $ 36,000 The partners decided to dissolve the business and anticipated that expenses required to liquidate their partnership would amount to $ 4,000 Capital balances were as follows: King, capital $ 36,000 Murphy, capital 48,000 Madison, capital 30,000 24,000 Pond, capital The partners shared profits and losses 40:30:20:10 respectively. The cash on hand was used to pay the liabilities. Any remaining cash in excess of the amount needed for anticipated liquidation expenses was immediately distributed to the partners. a. What is the total amount of cash that was immediately available to be distributed to the partners? b. The cash (in item a.) was distributed to each partner in a single payment. Show the total payment amount to each partner. (Show the amount of the single check that was written to each partners.) Support your answer with a predistribution plan (or schedule)