2. The statement of financial position of the partnership of Balino, Andres and Ignacio who share in the profits and losses in the ratio of 5:3:2, respectively, is as follows: Assets Liabilities and Capital Cash P 30,000 Liabilities P 50,000 Other assets 320,000 Balino, Capital 80,000 Andres, Capital 115,000 Ignacio, Capital 105,000 Total P350,000 Total P350,000 The partners agreed to liquidate the partnership by installment. Immediately there was a realization of P100,000 cash in selling other assets with book value of P150,000. On the cash available, priority is the payment of the liabilities and the balance is to be distributed to the partners. How should the remaining cash be distributed? a. Balino, P50,000; Andres, P30,000; Ignacio, P20,000 b. Balino, P40,000; Andres, P24,000; Ignacio, P16,000 C. Balino, PO Andres, P48,000; Ignacio, P32,000 d. Balino, PO Andres, P31,000; Ignacio, P49,000