3. A statement of nancial position for the partnership of Dy. 3}; and Lee. who share prots in the ration of 2:1:1, shows the following balances just before liquidation: Cash P1200!) Other Assets 59.50!) Liabilities 20.1100 Dy, Capital 22.1100 53;. Capital 15.50:: Lee. Capital 14.000 On the first month of the liquidation. certain assets are sold for P32.DEIEI. Liquidation expenses of FLOOD are paid. and additional liquidation expenses are anticipated. Liabilities are paid amounting to PEACH, and sufcient cash is retained to insure the payment to creditors before making payments to partners. [in the first payment to partners. Dy receives P112511 The total cash distributed to the partners in the first installment is: a. P2. b. P12.50