7 The Drysdale, Koufax, and Marichal partnership has the following balance sheet Immediately prior to liquidation: Cash 8.33 points Noncash assets $ 39,800 219,00 Liabilities Drysdale, loan Drysdale, capital (sex) Koufax, capital (38) Marichal, capital (20x) $ 48,500 16,000 74,500 64,500 54,500 eBook Print a-1. Determine the maximum loss that can be absorbed in Step 1. Then, assuming that this loss has been incurred, determine the next maximum loss that can be absorbed In Step 2 a-2 Liquidation expenses are estimated to be $18,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. b. Assume that assets costing $77.000 are sold for $61.500. How is the available cash to be divided? References Complete this question by entering your answers in the tabs below. Req A1 Req AZ Rey B Determine the maximum loss that can be absorbed in Step 1. Then, assuming that this loss has been incurred, determine the next maximum loss that can be absorbed in Step 2. Loss Maximum Loss Partner Capital Balance Allocation That Can Be Absorbed Step 1 Drysdale Koufax Marichal % Step 2 Koufax % Marichal Reg A1 Req A2 > Complete this question by entering your answers in the tabs below. Req A1 Req AZ ReqB Liquidation expenses are estimated to be $18.000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. DRYSDALE, KOUFAX, AND MARICHAL Distribution of Available Cash Liabilities Liquidation expenses First % Next Next % All remaining cash % % % Complete this question by entering your answers in the tabs below. Reg A1 Reg AZ Rey B Assume that assets costing $77,000 are sold for $61,500. How is the available cash to be divided? Cash available for distribution: Beginning cash balance Sale of noncash assets Subtotal Payment of liabilities Payment of estimated liquidation expenses Cash available for distribution Koufax Marichal Total Cash distribution to partners Drysdale First Next Next Total