Answer:
Patel's will receive $7,887
Arno's will receive $15,113
Explanation:
total assets to be distributed = $23,000 (cash)
Patel's capital = $12,000
Arno's capital = $23,000
total capital = $35,000
Patel's share = $12,000 / $35,000 = 34.29% x $23,000 = $7,887
Arno's share = $23,000 / $35,000 = 65.71% x $23,000 = $15,113