The Drysdale, Koufax, and Marichal partnership has the following balance sheet immediately prior to liquidation: Cash $ 50,000 Liabilities $ 41,000 Noncash assets 274,000 Drysdale, loan 40,000 Drysdale, capital (50%) 91,000 Koufax, capital (30%) 81,000 Marichal, capital (20%) 71,000

Liquidation expenses are estimated to be $29,000. Prepare a predistribution schedule to guide the distribution of cash.

Assume that assets costing $88,000 are sold for $67,000. How is the available cash to be divided?