2 Carlo and Dodge started Carlo & Dodge L.I.P some years ago and managed to operate profitably for several years. Recently, however, they kst a lawsuit requiring payment of large damages because of Carlo's negligence and incurred unexpected losses on trade accounts receivable and inventories. As a result, they decided to liquidate the partnership After all noncash assets were realized, only $18,000 was available to pay liabilities, which amounted to 533,000. The partners capital account balances before the start of liquidation and their income sharing percentages are shown below: Capital Account balances Income-Sharing Percentages Carlo $23,000 55% Dodge 13,500 a Prepare a working paper to compute the total loss incurred on the liquidation of the Carlo Dodge LLP b. Prepare a journal entry to record Carlos payment of $15.000 to partnership creditors and to close the partners' capital accounts. Carlo was barely solvent after paying the partnership creditors, but Dodge had net assets, exclusive of partnership interest, in ex- cess of $100.000