Carney, Pierce, Menton, and Hoehn are partners who share profits and losses on a 4:3:2:1 basis, respectively. They are beginning to liquidate the business. At the start of this process, capital balances are

Carney, capital	$	69,000
Pierce, capital		29,700
Menton, capital		52,000
Hoehn, capital		22,700

Which of the following statements is true?

Multiple Choice

• Carney will be the last partner to receive any available cash.

• The first available $4,700 will go to Hoehn.

• Carney will collect a portion of any available cash before Hoehn receives money.

• The first available $6,600 will go to Menton.