PE 12-6A. Liquidating partnerships- deficiency Obj. 4 Example Exercise 12-6 Show Me How Prior to liquidating their partnership, Wake- field and Barns had capital accounts of $105,000 and $55,000, respectively. The partnership assets were sold for $40,000. The part- nership had no liabilities. Wakefield and Barns share income and losses equal- ly. Determine the amount of Barns's deficiency. Determine the amount distributed to Wakefield, as- suming that Barns is unable to satisfy the deficiency