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P14.15 Close Books and Prepare Cash Distribution Plan Arnold, Bell and Crane agree to liquidate their partnership as soon as possible. The partnership agreement calls for salaries of $50,000 and $70,000 for Amold and Bell, respectively, any remaining profit or loss is divided in a 2:5:3 ratio. The preclosing trial balance for the partnership at July 31, 2020, the end of the firm's fiscal year, is: Chapter 14 . Partnership Accounting and Reporting Account Credit $ Debit 95,000 350,000 Cash... Other assets... Liabilities. .... Loan payable --Crane. Capital-Arnold Capital-Bell... Capital-Crane Sales.......... Operating expenses Drawings-Arnold Drawings-Bell. Drawings-Crane Totals... $ 114,000 36,000 85,000 70,000 40,000 732,000 520,000 60,000 27,000 25,000 $1,077,000 $1,077,000 Required a. Prepare a schedule showing the balances in the capital accounts prior to liquidation. b. Prepare a cash distribution plan for the liquidation c. Compute the amount that must be realized from the other assets to liquidate the liabilities and drive all capital accounts to zero