General Widget Partnership Assets Amount to $34,000 After Liquidation

Multiple Choice

General Widget partnership assets amount to $34,000 after liquidation.Frank,Gene,and Hank,equal partners,each contributed $3,000 into the capital pool at the inception of the business.Gene later loaned the business $5,000.They owe $23,000 to creditors for inventory.What will Gene get in distribution,assuming there is no agreement on the distribution of profits?

A) $7,000
B) $5,000
C) $8,000
D) $11,000