Part I. (12 points). Use the following information for questions 1 and 2. On June 30, 2020, the Warle. Xin, and Yates partnership had the following fiscal year-end balance sheet: Cash Accounts receivable Inventory Plant assets-net Loan to Warle. Total assets $ 4.000 6,000 14,000 12,000 6,000 $_42.000 Accounts payable Loan from Xin Warle, capital(20%) Xin, capital (30%) Yates, capital (50%) Total ljab./equity $ 7,000 5,000 14,000 10,000 6,000 $_42.000 The percentages shown are the residual profit and loss sharing ratios. The partners dissolved the partnership on Iuly 1_2020_and began the liquidation process. During July the following events occurred: Receivables of $3,000 were collected. The inventory was sold for $4,000. All available cash was distributed on July 31, except for $2,000 that was set aside for contingent expenses. 1. The book value of the partnership equity (i.e., total equity of the partners) on June 30, 2020 is: 2. The cash available for distribution to the partners on July 31, 2020 is