please complete in excel Partnership Predistribution Plan

$($Estimated Time: $30$ to $40$ Minutes$)$ For the past several years, the Andrews, Caso, Quinn, and

Sheridan partnership has operated a local department store. Based on the provisions of the origi$-$

nal articles of partnership, all profits and losses have been allocated on a $4$:$3$:$2$:$1$ ratio,

respectively. Recently, both Caso and Quinn have undergone personal financial problems and, as

a result, are now insolvent. Caso's creditors have filed a $$20,000$ claim against the partnership's

assets, and $$22,000$ is being sought to repay Quinn's personal debts. To satisfy these legal

obligations, the partnership property must liquidate. The partners estimate that they will incur

$$12,000$ in expenses to dispose of all noncash assets. At the time that active operations cease and

the liquidation begins, the following partnership balance sheet is produced. All measurement

accounts have been closed out to arrive at the current capital balances.

Required

Using the information available prior to the start of the liquidation process, prepare a predistri$-$

bution plan for the partnership. You may use either the method developed in the book or the one

I illustrated in class.