The partnership of Wilson Cho and Arrington has the following account information:

Sha r e of Partner Capital Balance P r ofits and Losses
Wilson . . . . . . . . . . . . . . . $200000 40% Cho . . . . . . . . . . . . . . . . . 180000 20 Arrington . . . . . . . . . . . . . 110000 40
This partnership will be liquidated and the partners are scheduled to receive cash equal to any ending positive capital balance. If a negative capital balance results the partner is expected to contribute that amount. Assume that losses of $50000 occur during the liquidation followed later by additional and final losses of $100000.
Requi r ed 1. Create a spreadsheet to determine the capital balances that remain for each of the three part- ners after these two losses are incurred. 2. Modify this spreadsheet so that it can be used for different capital balances different allocation patterns and different liquidation gains and losses.