Aken, Prince, and Bird share profits and losses in the ratio of 2:3:5. They have decided to liquidate their partnership. The partnership balance sheet on January 31, Year 8, is as follows: Assets Liabilities and Equities Cash Noncash assets $ 40,000 200,000 Liabilities Bird, loan Aken, capital Prince, capital Bird, capital $ 50,000 20,000 45,000 75,000 50.000 $240.000 $240,000 During the liquidation of the partnership, the following events occur: In February Year 8, noncash assets with a book value of $85,000 are sold for $55,000, and $21,000 is paid to outside creditors of the partnership. In March Year 8, the remaining noncash assets are sold for $70,000, and the rest of the outside creditors are paid. Liquidation expenses of $3,800 are also paid. Cash is distributed to partners at the end of each month. Required 1. Prepare a cash distribution plan for the APB partnership on January 31, Year 8. 2. Calculate the amount that each partner received in both February and March.