The partnership of Wingler, Norris, Rodgers, and Guthrie was formed several years ago as a local architectural firm. Several partners have recently undergone personal financial problems and have decided to terminate operations and liquidate the business. The following balance sheet is drawn up as a guideline for this process:

Cash$15,000Liabilities$74,000Accounts receivable 82,000Rodgers, loan 35,000Inventory 101,000Wingler, capital (30%) 120,000Land 85,000Norris, capital (10%) 88,000Building and equipment (net) 168,000Rodgers, capital (20%) 74,000 Guthrie, capital (40%) 60,000Total assets$451,000Total liabilities and capital$451,000

When the liquidation commenced, liquidation expenses of $16,000 were anticipated as being necessary to dispose of all property.

Part A

Prepare a predistribution plan for this partnership.

Prepare a predistribution plan for this partnership. (Do not round intermediate calculations.)