A local partnership is to be liquidated. Commissions and other liquidation expenses are expected to total $19,000. The businesss balance sheet prior to the commencement of liquidation is as follows: Cash $ 27,000 Liabilities $ 40,000 Noncash assets 254,000 Simpson, capital (20%) 18,000 Hart, capital (40%) 40,000 Bobb, capital (20%) 48,000 Reidl, capital (20%) 135,000 Total assets $ 281,000 Total liabilities and capital $ 281,000 Prepare a predistribution plan for this partnership. Prepare the loss allocation table. Partner Capital Balance Loss Allocation Maximum Loss That Can Be Absorbed Schedule 1 Simpson Hart Bobb Reidl Schedule 2 Hart Bobb Reidl Schedule 3 Bobb Reidl 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 Adjusted balances