The partnership of Frick, Wilson, and Clarke has elected to cease all operations and liquidate its business property. A balance sheet drawn up at this time shows the following account balances:

The partnership of Frick, Wilson, and Clarke has elected to cease all operations and liquidate its business property. A balance sheet drawn up at this time shows the following account balances: Cash Noncash assets 35,000 101.000 28,D00 61 ,000 48,000 177000 Liabilities Frick, capital (60%) Wilson capital (20%) Clarke, capital (20%) Total assets Total liabilities and capit $225,000 Noncash assets with a book value of $80,000 were sold for $48,000 and all liabilities were paid $9,000 was retained in the business to cover liquidation expenses before distributing available cash to the partners. Instructions First, prepare a predistribution plan for this partnership (not just the analysis needed to prepare the plan). Then, use your plan to find out how much cash would be distributed to each partner. The cash will be distributed by check so show what each partner's check amount will be