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(a) The (b) (c) (d) sale of noncash assets The allocation of the gain or loss on liquidation to the partners. Payment of creditors Distribution of cash to the partners. Part III. Resolve the following exercise (25 points) The AB the Assume the following C Partnership is to be liquidated and you have been hired to prepare a Schedule of Cash Payments for partnership. Partners Alexa, Bitsy, and Coco share income and losses in the ratio of 3:4.3, respectively 1. The noncash assets were sold for $70,000. 2. Liabilities were paid in full. 3. The remaining cash was distributed to the partners. (If any partner has a capital deficiency, assume that the partner will cover it with his personal funds.) Instructions Using the above information, complete the Schedule of Cash Payments