Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Turner, Roth, and Lowe are partners who share income and loss in a 2:3:5 ratio (in percents: Turner, 20%; Roth, 30%; and Lowe, 50% ). The partners decide to liquidate the partnership. Immediately before liquidation, the partnership balance sheet shows total assets, $159,600; total liabilities, $106,000; Turner, Capital, $5,300; Roth, Capital, $15,400; and Lowe, Capital, $32,900. The liquidation resulted in a loss of $95,600. Exercise 12-13 (Algo) Liquidation of partnership LO P5 Required: a. Allocate the loss to the partners. b. Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency. Required A Required B Allocate the loss to the partners. (Losses and deficits should be indicated with a minus sign.) Turner Roth Lowe Total Initial capital balances $ 5,300 $ 15,400 $ 32,900 $ 53,600 Allocation of gains (losses) 2/10 1,060 3/10 5/10 1,060 Capital balances after gains (losses) $ 54,660 Required A Required B Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency Capital balance deficiency Turner Roth Lowe Total $ 0