The partners, who share profits and losses on a 60:40 basis, respectively, wish to retire and have agreed to liquidate the business. Liquidation expenses are estimated to be $8,500. At the date the partnership ceases operations, the balance sheet is as follows: Cash $69,000, Noncash assets $ 280,000 Liabilities 449,500 Alex, capital $168,000 Bess capital$ 131,500 Total liabilities and capital $ 349,000. Use the information below to provide the 2nd distributed safe cash payments to the partners. $29,700 of the partnership's liabilities were paid. Sold noncash assets for $299,500. paid remaining partnership liabilities of $19,800. paid $6,700 in liquidation expenses; no further expenses will be incurred