cash distribution

cash distribution

On January 1, 2006, the partners of Cobb, Davis, and Eddy, who share profits and losses in the ratio of 5:3:2, respectively, decided to liquidate their partnership. On this date the partnership condensed balance sheet was as follows:
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Assets
Cash
$ 50,000
Other assets
250,000
$300,000
Liabilities and Capital
Liabilities
$ 60,000
Cobb, capital
80,000
Davis, capital
90,000
Eddy, capital
70,000
$300,000
On January 15, 2006, the first cash sale of other assets with a carrying amount of $150,000 realized $120,000. Safe installment payments to the partners were made the same date. How much cash should be distributed to each partner?
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Cobb
Davis
Eddy
a.
$15,000
$51,000
$44,000
b.
$40,000
$45,000
$35,000
c.
$55,000
$33,000
$22,000
d.
$60,000
$36,000
$24,000