turner, roth, and lowe are partners who share income and loss in a 1:4:5 ratio. after lengthy disagreements among the partners and several unprofitable periods, the partners decide to liquidate the partnership. immediately before liquidation, the partnership balance sheet shows total assets, $129,000; total liabilities, $96,750; turner, capital, $1,600; roth, capital, $11,600; and lowe, capital, $19,050. the cash proceeds from selling the assets were sufficient to repay all but $22,000 to the creditors.

1a) Calculate the loss from selling the assets

1b) Allocate the gain (loss) to the partners

1c) determine the amount of the remaining liability to be paid by each partner