The following condensed balance sheet is presented for the partnership of Dunn, Lott, and Tyler who share profits and losses in the ratio of 7:2:1, respectively.

Cash$30,000

Other assets150,000

$180,000Liabilities

$60,000Dunn, Capital

50,000Lott, Capital

40,000Tyler, Capital

30,000

$180,000

The partners agreed that the partnership would be liquidated after selling the other assets. All partners are personally insolvent. What would each of the partners receive if the other assets are sold for $70,000?

Dunn Lott Tyler

A$6,000$24,000 $22,000

B$0 $21,000 $19,000

C$50,000$40,000 $30,000

D$0 $20,000 $20,000