Part IIl. Resolve the following exercise (25 points) The ABC Partnership is to be liquidated and you have been hired to prepare a Schedule of Cash Payments for the partnership. Partners Alexa, Bitsy, and Coco share income and losses in the ratio of 4:3:3, respectively. Assume the following: 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. Instructions Using the above information, complete the Schedule of Cash Payments below ABC PARTNERSHIP Schedule of Cash Payments Noncash Alexa Bitsy ltem Balances before Coco Cash AssetsLiabilities+ Capita!+ Capital Capital liquidation 50,000 25,000 35,00065,000 25,000 150,000