The following balance sheet is for a local partnership in whichthe partners have become very unhappy with each other. Cash $51,000 Liabilities $ 41,000 Land 185,000 Adams, capital 118,000Building 175,000 Baker, capital 42,000 Carvil, capital 82,000Dobbs, capital 128,000 Total assets $ 411,000 Total liabilities andcapital $ 411,000 To avoid more conflict, the partners have decidedto cease operations and sell all assets. Using this information,answer the following questions. Each question should be viewed asan independent situation related to the partnership’s liquidation.The $10,000 cash that exceeds the partnership liabilities is to bedisbursed immediately. If profits and losses are allocated toAdams, Baker, Carvil, and Dobbs on a 2:3:3:2 basis, respectively,how will the $10,000 be divided? The $10,000 cash that exceeds thepartnership liabilities is to be disbursed immediately. If profitsand losses are allocated on a 2:2:3:3 basis, respectively, how willthe $10,000 be divided? The building is immediately sold for$96,000 to give total cash of $147,000. The liabilities are thenpaid, leaving a cash balance of $106,000. This cash is to bedistributed to the partners. How much of this money will eachpartner receive if profits and losses are allocated to Adams,Baker, Carvil, and Dobbs on a 1:3:3:3 basis, respectively? (Do notround intermediate calculations.) Assume that profits and lossesare allocated to Adams, Baker, Carvil, and Dobbs on a 1:3:4:2basis, respectively. How much money must the firm receive fromselling the land and building to ensure that Carvil receives aportion?