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 $ 50,000 150,000 Liabilities Miller, capital Tyson, capital Watson, capital Total liabilities and capital 42,000 69,000 69,000 20,000 $ 200,000 Total assets 200,000

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.