13. Monica and Sabrina have operated as an accounting partnership for the past decade in Biloxi, but now want to retire to pursue other activities. Their partnership balance sheet is presented below! Assets Cash Rec Equipment BLDG&Land 200,000 300,000 150,000 250,000 Total assets = 900,000 Liabilities and equity Loan pay 200,000 Cap: M 300,000 Cap: s 400,000 Total L&OE= 900,000 Assume that monica and Sabrina have a 60% and 40% P&L ratio. Assume that the non cash assets of the partnership are sold to Stephanie for 600,000. How much cash should be distributed to Monica and Sabrina? a: M: 240,000, 5:360,000 b. M: 300,000, S: 400,000 M: 340,000, 5:460,000 d. M: 300,000, 5:300,000 None of the above