4. Williams will require repayment of his loan to the partnership as soon as cash is available. 5. Harrington has a very weak financial situation with personal assets, excluding his interest in the...

4. Williams will require repayment of his loan to the partnership as soon as cash is available.

5. Harrington has a very weak financial situation with personal assets, excluding his interest in the partnership, of $145,000 and personal liabilities of $132,000. Harrington will agree to contribute his net personal assets to the partnership.