Complete the following exercise. Fill in the Excel spreadsheet provided via the link below to enter your answers to parts a, b, and c. Then paste the Excel data into a Word document on which you can also write the answer to part d.Label each exercise or problem clearly. Use APA formatting and citation if needed.Sand, Mell, and Rand are partners who share incomes and losses in a 1:4:5 ratio. After lengthy disagreements among the partners and several unprofitable periods, the partners decided to liquidate the partnership. Before the liquidation, the partnership balance sheet showed the following:The other assets were sold for $ 85,000. Proceeds from the sale of other assets were used to payoff existing liabilities.