The following Information applies to the questions displayed below.) Turner, Roth, and Lowe are partners who share income and loss in a 14:5 ratio (in percents: Turner, 10%; Roth, 40%; and Lowe, 50%). The partners decide to liquidate the partnership. Immediately before liquidation, the partnership balance sheet shows total assets, $152,400, total liabilities, $100,000: Turner, Capital, $4700, Roth, Capital $15,100, and Lowe, Capital, $32,600. Cash received from selling the assets was sufficient to repay all but $39,000 to the creditors. Exercise 12-13 Liquidation of partnership LO P5 Required: a. Calculate the loss from selling the assets. b. Allocate the loss from part a to the partners. c. Determine how much each partner should contribute to the partnership to cover any remaining capital eficiency Complete this question by entering your answers in the tabs below. Required A Required Required rences Calculate the loss from selling the assets Liabilities before liquidation Proceeds from sale of sets (paid to creditors) Remaining liabilities Proceeds from sale of assets Book Value of assets sold Los on sale of assets $ 100.000 61,000 $ 30.000 $ 61,000 152,400 ic araw 15 The following information applies to the questions displayed below. Turner, Roth, and Lowe are partners who share income and loss in a 14:5 ratio (in percents: Turner, 10%; Roth, 40%, and Lowe, 50%). The partners decide to liquidate the partnership. Immediately before liquidation, the partnership balance sheet shows total assets, $152,400, total liabilities, $100,000, Turner, Capital, $4,700; Roth, Capital, $15,100, and Lowe, Capital, $32,600. Cash received from selling the assets was sufficient to repay all but $39,000 to the creditors. Part 12 8.33 pot Exercise 12-13 Liquidation of partnership LO P5 wo Required: 0. Calculate the loss from selling the assets. b. Allocate the loss from part a to the partners c. Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency Complete this question by entering your answers in the tabs below. Red Bed Required Alocate the lost from part a to the partners (Loren ondorioa whold da indicated with a mwengu Turner Roth LOWE In bao 4.700 15.00 5 12.000 Alection of one does 1/10 010 S10 Crocs som Total 52.400 0