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The following condensed balance sheet is for the partnership of Miller, Tyson, and Watson, who share profits and losses in the ratio of 6:2:2,
The following condensed balance sheet is for the partnership of Miller, Tyson, and Watson, who share profits and losses in the ratio of 6:2:2, respectively: Cash Other assets $ 42,000 102,000 Liabilities Miller, capital Tyson, capital Watson, capital $ 24,000 54,000 54,000 12,000 Total assets $ 144,000 Total liabilities and capital $ 144,000 a. Assuming no liquidation expenses, calculate the safe payments that can be made to partners at this point in time. b. For how much money must the other assets be sold so that each partner receives some amount of cash in a liquidation? Complete this question by entering your answers in the tabs below. Required A Required B Assuming no liquidation expenses, calculate the safe payments that can be made to partners at this point in time. Safe payments Miller Tyson Watson < Required A Required B >
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