Exercise 9 (tijy &. 9) Installment liquidation with insolvent partners, deficit capital balances. Coleman, Moore, and Ramsey are partners in a The partnrsip has cash of $8,000, noncash assets with a book value of $96,000, and liabilities alarices. Coleman, Moore, and Ramsey are partners in a bsiness being liquidate of $63,000. The following information relates to the individual partners as of June1, 2017 Coleman Moore am 5,000 . $47,000 14 Personal assets. . Personal liabilities Profit and loss percentages 15,000 25,000 6,000 ...10,000 5,000 60% 15,000 20% 20% . . . . .. .. . .. . .. On June 15, 2017, assets with a book value of $30,000 were sold for $20.000 cash. The pro- ceeds were used to pay off liabilities of the partnership. During the balance of June, no addi tional assets were iquidated, and outside creditors began to pressure the partnership for payment. On July 1, the partners agreed to contribute personal assets, to the extent of their net personal assets, in order to eliminate their respective capital deficits. Shordly thereafter, assers with a book value of $20,000 and a fair value of $23,000 were distributed to Coleman Assuming additional noncash assets with a book value of $40,000 are sold in July for S54,000, determine how available cash would be distributed