A local partnership is to be liquidated. Commissions and other liquidation expenses are expected to total 319,000. The business's balance sheet prior to the commencement of liquidation is as follows: $ Cash Noncash assets $ 27,000 254,000 Liabilities Simpson, Capital (20%) Hart, capital (40%) Bobb, capital (203) Reidl, capital (20%) Total liabilities and capital 40.000 18.000 40,000 48,000 135,000 281,000 Total assets $ 281,000 $ Prepare a predistribution plan for this partnership Complete this question by entering your answers in the tabs below. Loss Allocation Partner Balances Prepare the loss allocation table. Partner Maximum Capital Balance Loss Allocation Loss That Can Be Absorbed Schedule 1 Simpson Hart Bobb Reid Schedule 2 Hat Bobb Schedule 3 Bobb Q A local partnership is to be liquidated. Commissions and other liquidation expenses are expected to total $19,000. The business's balance sheet prior to the commencement of liquidation is as follows: $ Cash Noncash assets $ 27,000 254,000 Liabilities Simpson, capital (20%) Hart, capital (403) Bobb, capital (20%) Reidl, capital (20%) Total liabilities and capital 40,000 18,000 40,000 48.000 135,000 281,000 Total assets $ 281,000 $ Prepare a predistribution plan for this partnership Complete this question by entering your answers in the tabs below. Loss Allocation Partner Balances Prepare the table showing partner balances. Simpson Hart Bobb Reidl Reported balances Assumed loss Schedule 1 Adjusted balances Assumed loss Schedule 2 Adjusted balances (Assumed loss Schedule 3 Austed balances