Required Write a report describing the potential liabilities that the members of a partnership could incur. The partnership of Wilson, Cho, and Arrington has the following account information: Share of Profits and Losses Partner Wilson. Cho Arrington Capital Balance $200,000 180,000 110,000 40% 20 40 This partnership will be liquidated, and the part ending positive capital balance. If a negative capital balance results, the partner is expected to contribute that amount ners are scheduled to receive cash equal to any Assume that losses of $50,000 occur during the liquidation followed later by additional and final losses of $100,000. Required 1. Create a spreadsheet to determine the capital balances that remain for each of the three part- 2. Modify this spreadsheet so that it can be used for different capital balances, different allocation ners after these two losses are incurred. patterns, and different liquidation gains and losses