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	$	76,000
Pierce, capital		31,800
Menton, capital		59,000
Hoehn, capital		24,800

Which of the following statements is true?

Multiple Choice

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

• The first available $9,400 will go to Menton.

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

• The first available $6,800 will go to Hoehn.