The Simpson, Hart, Bobb, and Reidel 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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$ 27,000 254,000 $ 40,000 Cash Liabilities. Noncash assets. Simpson, capital (20%). Hart, capital (40%). Bobb, capital (20%). Reidl, capital (20%). 18,000 40,000 48,000 135,000 Total assets $281,000 Total liabilities and capital. $281,000