The partnership of Butler, Osman, and Ward was formed several years as a local tax preparation firm. Two partners have reached retirement age and the partners have decided to terminate operations and liquidate the business. Liquidation expenses of $56,000 are expected. The partnership balance sheet at the start of liquidation is as follows Cash Accounts receivable Office equipment (net) Building (net) Land Totalassets $ 192,000 52,000 160,000 52,000 180,000 $ 636,000 $ 52,000 Liabilities 82,000 72,000 220,000 210,000 $ 636,000 Butler, loan Butler, capital Osman, capital (25%) Ward, capital (50%) (25%) Total liabilities and capital Prepare a predistribution plan for this partnership Butler, Loan Osman, and Capital Capital Ward Capital Beginning balances Loss Step one balances Loss Step two balances