Dancey,Reese,Newman,and Jahn Were Partners Who Shared Profits and Losses on a 4:2:2:2

Dancey,Reese,Newman,and Jahn were partners who shared profits and losses on a 4:2:2:2 basis,respectively.They were beginning to liquidate their business.At the start of the process,capital balances were as follows: $\begin{array} { l r } \text { Dancey, capital } & \$ 72,000 \\\text { Reese, capital } & 32,000 \\\text { Newman, capital } & 52,000 \\\text { Jahn, capital } & 24,000\end{array}$ Which one of the following statements is true for a predistribution plan?

A) The first available $16,000 would go to Newman.The next $12,000 would go $8,000 to Dancey and $4,000 to Newman.The following $32,000 would be shared by Dancey,Reese,and Newman.The total distribution would be $60,000 before all four partners share any further payments equally.
B) The first available $16,000 would go to Newman.The next $12,000 would go $8,000 to Dancey and $4,000 to Newman.The following $32,000 would be shared by Dancey,Reese,and Newman.The total distribution would be $60,000 before all four partners share any further payments in their profit and loss sharing ratios.
C) The first $20,000 would go to Newman.The next $8,000 would go to Dancey.The next $12,000 would be shared by Dancey,Reese,and Newman.The total distribution would be $40,000 before all four partners share any further payments equally.
D) The first available $8,000 would go to Newman.The next $4,000 would be split equally between Dancey and Newman.The following $12,000 would be shared by Dancey,Reese,and Newman.The total distribution would be $24,000 before all four partners share any further payments equally.
E) The first available $8,000 would go to Newman.The next $4,000 would be split equally between Dancey and Newman.The following $12,000 would be shared by Dancey,Reese,and Newman.The total distribution would be $24,000 before all four partners share any further payments in their profit and loss sharing ratios.