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	$	61,000
Pierce, capital		27,300
Menton, capital		44,000
Hoehn, capital		20,300

Which of the following statements is true?

Multiple Choice

• The first available $2,300 will go to Hoehn.

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

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

• The first available $3,400 will go to Menton.