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 $ 43,000 120,000 33,000 71,000 Cash Noncash assets $ 60,000 207,000 Liabilities Frick, capital (60%) Wilson, capital (20%) Clarke, capital (20%) Total assets $267,000 Total liabilities and capital $267,000 Part A Prepare a predistribution plan for this partnership Ic son Capital Capital Capital Beginning balances Loss Step one balances Loss Step two balances Loss Step three balances 120,000 $33,000 33,000 71,000 33,000 38,000 99.000 21,000 21,000 38,000 21,000 38,000