The Henry, Isaac, and Jacobs partnership was about to enter liquidation with the following account balances: Cash Noncash assets $ 90,000 300,000 Liabilities Henry, capital Isaac, capital Jacobs, capital Total $ 60,000 80,000 110,000 140,000 $390,000 Total $390,000 Estimated expenses of liquidation were $5,000. Henry, Isaac, and Jacobs shared profits and losses in a ratio of 2:4:4. Before liquidating any assets, the partners determined the amount of cash for safe payments and distributed it. The noncash assets were then sold for $120,000. The liquidation expenses of $5,000 were paid prior to the sale of noncas assets. How would the $120,000 be distributed to the partners? (Hint: Either a predistribution plan or a statement of liquidation would be appropriate for solving this item.) A) B) C) D) E) Henry Isaac Jacobs $33,000 $36,000 $51,000 $28,000 $36,000 $56,000 $29,333 $32,000 $58,667 $24,000 $48,000 $48,000 $38,000 $ 26,000 $56,000