Gilligan, Skipper, and Professor Are Partners with a Profit and Loss

Gilligan, Skipper, and Professor are partners with a profit and loss ratio of 4:3:3.The partnership was liquidated and, prior to the liquidation process, the partnership balance sheet was as follows: \begin{array}{c} \text { GILLIIGAN, SKIPPER, AND PROFESSOR}\\ \text { Balance Sheet}\\ \text { January 1, 2014}\\\\\\begin{array}{lll} \text { Assets}\\ \text { Cash}&\$60,000\\ \text { Other assets}&540,000\\&\underline{\quad\quad}\\ \text { Total Assets}&\$600,000\end{array}\begin{array}{lll}\text {Liabilities and Equity}\\\text {Gilligan, Capital}&\$216,000\\\text {Skipper, Capital}&240,000\\\text {Professor, Capital}&144,000\\\text {Total Liabilities \& Equities}&\$600,000\end{array}\end{array}
After the partnership was liquidated and the cash was distributed, Skipper received $96,000 in cash in full settlement of his interest.
The liquidation loss must have been:

A) $360,000
B) $144,000
C) $504,000
D) $480,000