The Drysdale, Koufax, and Marichal partnership has the following balance sheet immediately prior to liquidation: Cash tioncash assets $ 38,000 214,000 Liabilities Drysdale, loan Drysdale, capital (50%) Koufox, capital (30%) Harichal. Capital (203) 540,000 15,000 73,000 63,000 53,000 0.1. Determine the maximum loss that can be absorbed in Step 1. Then, assuming that this loss has been incurred, determine the next maximum loss that can be absorbed in Step 2 0-2 Liquidation expenses are estimated to be $17.000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well b. Assume that assets costing $76,000 are sold for $61,000. How is the available cash to be divided? Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 ReqB Determine the maximum loss that can be absorbed in Step 1. Then, assuming that this loss has been incurred, determine the next maximum loss that can be absorbed in Step 2. Partner Maximum Loss Lons Capital Balance Allocation That Can Be Absorbed Step 1 Drysdale Koufax Marichal 9 Stop 2 Koufax Marichal % Req A2 > Complete this question by entering your answers in the tabs below. ROGA Red A2 Reg Liquidation expenses are estimated to be $17,000. Prepare a predistribution schedule to guide the distribution of cash Further, modify the tags in explanation as well Flest DRYSDALE, KOUFAX, AND MARICHAL Distribution of Available Cash Labies Liquidation expenses Next Next All remaining cash Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Reg B Assume that assets costing $76,000 are sold for $61,000. How is the available cash to be divided? Cash available for distribution Beginning cash balance Sale of noncash assets Subtotal Payment of liabilities Payment of estimated liquidation expenses Cash available for distribution Koufax Marichal Total Cash distribution to partners Drysdale First Nord Next Total