Required Information

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The partnership of Garcla, Igleslas, and Kassablan was formed several years ago as a local tax preparation firm. Two

partners have reached retirement age, and the partners have decided to terminate operations and IIquidate the business.

Liquidation expenses of $$36,000$ are expected. The partnership balance sheet at the start of Ilquidation is as follows:

Required:

Prepare a predistribution plan for this partnership.