LiquidationCash distribution computation, safe payments schedule
Fed, Ela, and Luc have decided to liquidate their partnership. Account balances on January 1, 2016, are as follows:
		Cash	160000	Accounts Payable	60000
		Other Assets	180000	Fed Capital (30%)	110000
			340000	Ela Capital (30%)	50000
				Luc Capital (40%)	120000
					340000
The partners agree to keep a $30,000 contingency fund and to distribute available cash immediately.
Required:
Determine the amount of cash that should be paid to each partner