This window shows your responses and what was marked correct and incorrect from your previous at The Drysdale, Koufax, and Marichal partnership has the following balance sheet immediately prior to liquidation: Cash Noncash assets $ 50,000 274,000 Liabilities Drysdale, loan Drysdale, capital (50%) Koufax, capital (30%) Marichal, capital (20%) $ 41,000 40,000 91,000 81,000 71,000 a-1. Determine the maximum loss that can be absorbed in Step 1. Then, assuming that this loss has been incurred, determine the next maximum loss that can be absorbed in Step 2. a-2. Liquidation expenses are estimated to be $29,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. b. Assume that assets costing $88,000 are sold for $67,000. How is the available cash to be divided? Complete this question by entering your answers in the tabs below. w Reg A1 Reg A2 Req B Liquidation expenses are estimated to be $29,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. First DRY SDALE, KOUFAX, AND MARICHAL Distribution of Available Cash x Liabilities Liquidation expenses x Next % Next % to search D a 11 your responses and what was marked correct and incorrect from your previo HENTEXTOSSUTO Cal De absorbeun stepz. 2-2. Liquidation expenses are estimated to be $29,000. Prepare a predistribution schedule to guide the distribution of cash. Fun modify the tags in explanation as well. b. Assume that assets costing $88,000 are sold for $67,000. How is the available cash to be divided? Complete this question by entering your answers in the tabs below. Req A1 Reg A2 Req B Liquidation expenses are estimated to be $29,000. Prepare a predistribution schedule to guide the distribution of cash. Further, modify the tags in explanation as well. First x DRY SDALE, KOUFAX, AND MARICHAL Distribution of Available Cash X Liabilities Liquidation expenses x X X X X Next X Next x % x 1% All remaining cash X X % x % x %