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:

Which of the following statements is true?

Carney, capital Pierce, capital Menton, capital Hoehn, capital $77,000 32,100 60,000 25,100 Multiple Choice O The first available $7,100 will go to Hoehn. O Carney will collect a portion of any available cash before Hoehn receives money. O The first available $9,800 will go to Menton. O Carney will be the last partner to receive any available cash