Assume That a Partnership Had Assets with a Book Value

Assume that a partnership had assets with a book value of $240,000 and a market value of $195,000, outside liabilities of $70,000, loans payable to partner Able of $20,000, and capital balances for partners Able, Baker, and Chapman of $70,000, $30,000, and $50,000. If all outside creditors and loans to partners had been paid, how would the balance of the assets be distributed assuming that Chapman had already received assets with a value of $30,000 assuming profits and losses are allocated equally?

A) Each of the partners would receive $25,000.
B) Each of the partners would receive $40,000.
C) Able: $70,000, Baker: $30,000, Chapman: $20,000
D) Able: $55,000, Baker: $15,000, Chapman: $5,000