AssetsLiabilities and Owners' Equity

Cash$45,000 Liabilities$150,000

Noncash assets$285,000 Chenard, Capital60,000

Jennings, Capital90,000

Blair, Capital30,000

Total$330,000Total $330,000

If the CHENARD, JENNINGS, and BLAIR Partnership is liquidated by selling the noncash assets for $195,000 and creditors are paid in full, what is the amount of cash that can be safely distributed to each partner?

a.CHENARD, $36,000; JENNINGS, $54,000; BLAIR, $0.

b.CHENARD, $42,000; JENNINGS, $63,000; BLAIR, $15,000.

c.CHENARD, $34,500; JENNINGS, $55,500; BLAIR, $0.

d.CHENARD, $33,000; JENNINGS, $57,000; BLAIR, $0.