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=$81,000

Pierce, capital=33,300

Menton, capital=64,000

Hoehn, capital= 26,300

Which of the following statements is true?

• The first available $8,300 will go to Hoehn.
• Carney will be the last partner to receive any available cash.
• The first available $11,400 will go to Menton.
• Carney will collect a portion of any available cash before Hoehn receives money.