Bonus Question 29) The partnership of Homer, Marge, and Bart share profits and losses in the ratio of 4:4:2, respectively. The partners voted to dissolve the partnership when its assets, liabilities, and capital were as follows: Assets Cash Other assets Liabilities and Equity $150,000 Liabilities 600,000 Homer, Capital Marge, Capital Bart, Capital $750,000 Total Lia & Equity $120,000 180,000 210,000 240,000 $750.000 Total assets The partnership will be liquidated over a prolonged period of time. As cash is available, it will be distributed to the partners. The first sale of noncash assets having a book value of $360,000 realized $285,000. How much cash should be distributed to each partner after this sale? Required: Prepare a schedule of liquidation through the first cash distribution and prepare a supporting schedule of safe payment