Use the following account balance information for Granobfin Partnership with income ratios of 2:4:4 for Granger, Noble, and Finn, respectively. Assets Cash $ 52800 Accounts Liabilities and Owner's Equity Accounts payable $ 125200 Granger, Capital 138300 Noble, Capital 48600 Finn, Capital 311500 $623600 receivable 132700 Inventory 438100 $623600 Assume that, as part of liquidation proceedings, Granobfin sells its noncash assets for $510100. The amount of cash that would ultimately be distributed to Finn would be $204040. $518000. O $287220. $311500. In liquidation, balances prior to the distribution of cash to the partners are: Cash $894000; Peterson, Capital $416000; Laney, Capital $385000, and Howell, Capital $93000. The income ratio is 6:2:2, respectively. How much cash should be distributed to Peterson? $369500 $404375 O $416000 O $447000 Chenard, Jennings, and Blair share profits and losses is 2:3:5, respectively. The balance sheet is: CHENARD, JENNINGS, AND BLAIR PARTNERSHIP Balance Sheet December 31, 2020 Assets Liabilities and Owners' Equity Cash $33500 Liabilities $146000 Noncash assets 292000 Chenard, Capital 59600 Jennings, Capital 89200 Blair, Capital 30700 Total $325500 Total $325500 If the partnership is liquidated and the noncash assets are worthless, the creditors will look to what partner's personal assets for settlement of the creditors' claims? The personal assets of Partner Jennings. The personal assets of Partners Chenard and Blair. O The personal assets of Partners Chenard, Jennings, and Blair. O The personal assets of the partners are not available for partnership debts