The Drysdale, Koufax, and Marichal partnership has the following balance sheet immediately prior to liquidation: Cash Noncash assets $ 43,000 239,000 Liabilities Drysdale, loan Drysdale, capital (50%) Koufax, capital (30%) Marichal, capital (20%) $ 45,500 25,000 80,500 70,500 60,500 a-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. a-2. Liquidation expenses are estimated to be $22,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. b. Assume that assets costing $81,000 are sold for $63,500. How is the available cash to be divided? Answer is not complete. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Reg B Liquidation expenses are estimated to be $22,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. DRYSDALE, KOUFAX, AND MARICHAL Distribution of Available Cash Liabilities Liquidation First expenses Next Next % All remaining cash % % complete this question by entering your answers in tne taps below. Req A1 Req AZ Req B Assume that assets costing $81,000 are sold for $63,500. How is the available cash to be divided? Cash available for distribution: Beginning cash balance Sale of noncash assets $ 43,000 63,500 $ 106,500 (45,500) Subtotal Payment of liabilities Payment of estimated liquidation expenses Cash available for distribution (22,000) $ 39,000 Cash distribution to partners: Drysdale First Koufax Marichal Total Next Next Total $ 0 $ 0 0 $ 0