A partnership is currently holding $200,000 in assets and $120,000 in liabilities. The partnership is to be liquidated, and $20,000 is the best estimation of the expenses that be incurred during the process. The capital balances of the two partners at the start of the liquidation and the profit and loss ratios are shown below.

Kevin, Capital (40% of gains and losses)... $20.000

Michael, Capital (60% of gains and losses). $60,000

The partners realize that Michael will be the first partner to start receiving cash. How much cash will Michael receive before Kevin collects any cash?

$20,000

$60,000

$12.000

$30,000

This is the solution I have calculated

I think my answer is incorrect. The correct answer is $20,00 I need to know the correct answer is $20,000 or $30,000 and why?

\begin{tabular}{|c|c|c|c|c|} \hline Partner & Capital (A) & Profit in Ratio \% (B) & \multicolumn{2}{|c|}{ Maximum Loss (A/B) } \\ \hline Kevin & $20,000 & 40% & \multicolumn{2}{|l|}{$50,000} \\ \hline Michael & $60,000 & 60% & \multicolumn{2}{|l|}{$1,00,000} \\ \hline \multicolumn{2}{|c|}{ Particulars } & Maximum Loss & Kevin & Michael \\ \hline \multicolumn{2}{|c|}{ Beginning Balance (A) } & & $20,000 & $60,000 \\ \hline \multicolumn{2}{|c|}{ Assumed Loss (4:6) } & $50,000 & $20,000 & $30,000 \\ \hline \multicolumn{2}{|c|}{ Balances (A-B) } & & $0 & $30,000 \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline Particulars & Recipient & Available cash \\ \hline 1st to & Assets- ( Liabilities \& Liquidation Expenses) \\ & $200,000$140,000($120,000+$20,000) & $80,000 \\ \hline 2nd & Michael & $30,000 \\ \hline 3rd & Michael and Kevin in the ratio of 6:4[50,000(80,00030000)] & 11/16/2023 \\ \hline \end{tabular}