PROBLEM 5 (20 points) The following balance sheet was prepared for ABC Partnership, whose partner's share net income and losses in the ratio of 1:1:2 respectively: Cash $ 40,000 Other assets 140,000 Liabilities Abe, Capital Ben, Capital Cher, Capital Totals $ 70,000 50,000 50,000 10,000 $180,000 $180,000 ======= The partners liquidate the partnership. Other assets are sold for $100,000 and liabilities are paid in full. ======= Prepare a worksheet to compute the amount of cash paid to each partner at liquidation assuming that all partners are insolvent. Prepare all journal entries. Show all computations