The Miami-Divers partnership had the following balance sheet just before its final liquidation:

Cash	$ 50,000		Liabilities	$ 70,000
Inventory	100,000		Phyllis, Capital (50% of profits and losses)	150,000
Other Assets	250,000		Sara, Capital (20%)	90,000
			Robin, Capital (30%)	90,000
Total	$ 400,000		Total	$ 400,000

The inventory was sold for $60,000 and liquidation expenses are estimated to be $15,000. What amount of cash is available for safe payments?

No safe payment can be made until all liabilities are fully paid

$25,000

$275,000

330,000

None of the answers is correct

The Big Cypress partnership had the following balance sheet just before its final liquidation:

Cash	$ 50,000		Liabilities	$ 140,000
Inventory	100,000		Phyllis, Capital (30% of profits and losses)	110,000
Other Assets	250,000		Sara, Capital (30%)	75,000
			Robin, Capital (40%)	75,000
Total	$ 400,000		Total	$ 400,000

The inventory was sold for $60,000, the Other Assets were sold for $105,000 and liquidation expenses are estimated to be $15,000. Which partner(s) would have had to contribute assets to the partnership to cover a deficit in her capital account?

		None of the partners
		Phyllis
		Sara
		Robin
		Sara and Robin