Exercise 12-13 Liquidation of partnership P5 Turner, Roth, and Lowe are partners who share income and loss in a 1:4:5 ratio in percents: Turner, 10%; Roth, 40%; and Lowe, 50%). The partners decide to liquidate the partnership. Immediately before liquidation, the partnership balance sheet shows total assets, $126,000; total liabilities, $78,000; Turner, Capital, $2,500; Roth, Capital, $14.000; and Lowe, Capital, $31.500. Cash received from selling the assets was sufficient to repay all but $28,000 to the creditors. a. Calculate the loss from selling the apsets. b. Allocate the loss from part (a) to the partners. Check (b LoweCapitel after allocation $16,500) c. Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency