The partnership of Larson, Norrls, Spencer, and Harrison has declded to terminate operations and liquidate all business property During this process, the partners expect to Incur $8,000 In liquidation expenses. All partners are currently solvent. The balance sheet reported by this partnership at the time that the liquidation commenced follows. The percentages Indicate the allocation of profits and losses to each of the four partners. Cash Accounts receivable Inventory Land and buildings Equipment $28,25 Liabilities $47,9ee 15,998 44,eee 39,000 23,000 Larson, capital (28%) Norris, capital (30%) Spencer, capital (28%) 75,808 41,259 $238,25e 104,000 Harrison, capital (38%) Total assets $238,25e Total liabilities and capital Based on the Information provided, prepare a predistribution plan for liquidating this partnership. Complete this question by entering your answers in the tabs below Partne AllocationBalances Prepare the loss allocation table Maximum Loss Partner Capital Balance Loss AllocationThat Can Be Absorbed Schedule 1 Larson Norris Spencer Harrisorn Schedule 2 Larson Norris Spencer Harrisorn Schedule 3 Larson Norris Spencer Harrisorn