The partnership of Larson, Norris, Spencer, and Harrison has decided to terminate operations and liquidate all business property. During this process, the partners expect to incur $8,000 in liquidation expenses. All partners are currently solvent. The balance sheet reported by this partnership at the time that the liquidation commenced follows. The percentages indicate the allocation of profits and losses to each of the four partners.

Cash $ 28,250 Liabilities $ 47,000
Accounts receivable 44,000 Larson, capital (20%) 15,000
Inventory 39,000 Norris, capital (30%) 60,000
Land and buildings 23,000 Spencer, capital (20%) 75,000
Equipment 104,000 Harrison, capital (30%) 41,250
Total assets $238,250 Total liabilities and capital $238,250

Required:
Based on the information provided, prepare a predistribution plan for liquidating this partnership.