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: Prepare a predistribution plan for this partnership The following transactions occur in liquidating this business: Distributed cash based on safe capital balances immediately to the partners. Liquidation expenses of $8,000 are estimated as a basis for this computation. Sold noncash assets with a book value of $94,000 for $60,000. Paid all liabilities. Distributed cash based on safe capital balances again. Sold remaining noncash assets for S51,000. Paid actual liquidation expenses of $6,000 only. Distributed remaining cash to the partners and closed the Financial records of the business permanently. Produce a final statement of liquidation for this partnership using the predistribution plan to determine payments of cash to partners based on safe capital balances. Prepare journal entries to record the liquidation transactions reflected in the final statement of liquidation