Part III. Resolve the following exercise (25 points) The ABC Partnership is to be liquidated and you have been hired to prepare a Schedule of Cash P the partnership. Partners Alexa, Bitsy, and Coco share income an Assume the following ayments for d losses in the ratio of 3 4:3, respectively 1. The noncash assets were sold for $70,000. 2. Liabilities were paid in full. 3. The remaining cash was distributed to the partners. (If any partner has a capital deficiency, assume that the partner will cover it with his personal funds.) Instructions Using the above information, complete the Schedule of Cash Payments below. ABC PARTNERSHIP Schedule of Cash Payments Bitsy Coco CashAssets Liabilities + Capital CapitalCapital 50,000 25,000 35,00065000 Noncash Alexa Item Balances before liquidation2 25,000 150,0005