Part IlI., Resolve the following exercise (25 points The ABC Partnership is to be liquidated and you have been hired to prepare a Schedule of Cast Pesn the partnership. Partners Alexa, Bitsy, and Coco share income and losses in the rauo Assume the following: 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 Alexa Bitsy Coco Noncash Cash + AssetsLiabilities Capital Capital Capital Item Balances before liquidation 25,000 150,00050,000 25,000 35,000 65,000