The balance sheet of Morgan and Rockwell was as follows immediately prior to the partnership's liquidation: cash, S22,700; other assets, $143,400; liabilities, $42,500; Morgan, capital, $58,400;...

Extracted text: The balance sheet of Morgan and Rockwell was as follows immediately prior to the partnership's liquidation: cash, S22,700; other assets, $143,400; liabilities, $42,500; Morgan, capital, $58,400; Rockwell, capital, $65,200. The other assets were sold for $120,000. Morgan and Rockwell share profits and losses in a 2:1 ratio. As a final cash distribution from the liquidation, Morgan will receive cash totaling a. $58,400 Ob. $42,800 Oc. S15,133 Od. S22,700