Distribution of Cash Upon Liquidation Bray, Lincoln, and Mapes arranged to import and sell orchid corsages for a university dance. They agreed to share equally the net income or net loss of the venture. Bray and Lincoln advanced $225 and $300 of their own respective funds to pay for advertising and other expenses. After collecting for all sales and paying creditors, the partnership has $1,500 in cash. Use the minus sign to indicate any deficiency for the capital accounts. a. How much net income was earned from the venture? b. How should the $1,500 be distributed? Bray Lincoln Mapes Total Capital balances and cash distribution C. Assume that the partnership has only $300 instead of $1,500. Complete the following table to determine if any of the three partners have a capital deficiency? Bray Lincoln Mapes Total Capital balances