Due to the fact that the partnership had been unprofitable for the past several years, A, B, and decided to liquidate their partnership. The partners share profits and losses in the ratio of 40:30:30, respectively. All of the partnership's other assets are sold for $100,000 cash. The following balance sheet was prepared immediately before the liquidation process began: Cash $ 100,000 Liabilities $250,000 Other Assets 350,000 A. Capital 55,000 B, Capital 60,000 C Capital 85.000 Total Assets $450,000 Total Liabilities & Equities $450.000 The personal status of each partner is as follows: Personal Personal Assets Liabilities A $185,000 $ 120,000 B 100,000 140,000 C 180,000 170,000 Required: A Prepare a liquidation worksheet to determine the amount of cash to be distributed to each partner. Assume that a partner makes additional contributions to the partnership when appropriate based on their individual status. B. Prepare all journal entries necessary in the liquidation process