The carrying values and estimated fair values of the assets of Penn Inc. are as follows:

Debts of Penn Inc. are as follows:

\section*{Required}

a. Prepare a schedule to calculate the net estimated amount available for general unsecured creditors.

b. Compute the percentage dividend to general unsecured creditors.

c. Prepare a schedule showing the amount to be paid each of the creditor groups upon distribution of the \(\$ 471,000\) estimated to be realizable.

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Cash Accounts Receivable Inventory Carrying Value $ 16,000 Fair Value $ 16.000 50,000 60,000 90,000 65.000 Land 100,000 80,000 Building (net) 220,000 160,000 Equipment (net) 250,000 100,000 Total $736,000 $471.000