Problem 15-24 (LO 15-5) A local partnership is to be liquidated. Commissions and other liquidation expenses are expected to total $19,000. The business's balance sheet prior to the commencement of liquidation is as follows $ 40,000 18,000 40,000 48,000 135,000 $ 281,000 Cash Noncash assets $ 27,000 254,000 Liabilities Simpson, Hart, capital (40%) Bobb, capital (20%) Reidl, capital (20%) capital (20%) Total assets $281,000Total liabilities and capital Prepare a predistribution plan for this partnership. Complete this question by entering your answers in the tabs below. Partner Loss AllocationBalances Prepare the table howing partner balances... Simpson Hart Bobb Reidl Reported balances Assumed loss Schedule1 Adjusted balances Assumed loss Schedule2 Adjusted balances Assumed loss Schedule3 Adjusted balances Loss Allocation Partner Balances>