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	$82,000	Liabilities	$42,000
Noncash assets	321,000	Frick, capital (60%)	195,000
		Wilson, capital (20%)	52,000
		Clarke, capital (20%)	109,000
Total assets	$403,000	Total liabilities and capital	$403,000

Noncash assets with a book value of $128,000 were sold for $82,000 and all liabilities were paid.

$11,000 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.