The partnership of Frick, Wilson, and Clarke has elected to cease all operations and liquidate its business property. A balance sheet drawn up at this time shows the following account balances: Cash Noncash assets Total assets $ 76,000 303,000 $379,000 Instructions: Liabilities Frick, capital (60%) Wilson, capital (20%) Clarke, capital (20%) Total liabilities and capital $ 44,000 183,000 49,000 103,000 $379,000 Noncash assets with a book value of $122,000 were sold for $76,000 and all liabilities were paid. $9,000 was retained in the business to cover liquidation expenses before distributing available cash to the partners. First, prepare a predistribution plan for this partnership (not just the analysis needed to prepare the plan). Then, use your plan to find out how much cash would be distributed to each partner. The cash will be distributed by check so show what each partner's check amount will be.