30 Required information Siera, Lani, and Cecilia are partners in an equipment leasing business that has not been able to generate the type of revenue expected by the partners. They share profits and losses in a ratio of 5:3.2, respectively. They have decided to liquidate the business and have sold all the assets except for one piece of heavy machinery. All the partners are personally insolvent. The machinery has a book value of $90,000 and the partners have capital balances as follows 8 012229 Siera, capital Land, Capital Cecilia, Capital $40,000 320,000 $30,000 Each of the following is an independent cose Refer to the information given above What amount of cash will each partner receive as a liquidating distribution if the machinery is sold for $60.000? A B. C. D. Siera $25,000 $30,000 $40,000 $55, eee Lani $11,000 $10,000 $20,000 $29,900 Cecilia $24,000 $20,000 $3 , $36,000