The Bui, Clemente, Devian, and Toussaint partnership has terminated operations and is undergoing liquidation. Sales commissions and other liquidation expenses are expected to total $19,000. The partnership’s balance sheet prior to the commencement of liquidation is as follows:

Prepare a predistribution plan for this partnership.

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Cash... Noncash assets. Total assets... $ 27,000 254,000 $281,000 Liabilities... Bui, capital (20%).. Clemente, capital (40%). Devian, capital (20%).. Toussaint, capital (20%). Total liabilities and capital..... $ 40,000 18,000 40,000 48,000 135,000 $281,000