2. My Company filed for Chapter 11 Bankruptcy on January 1, 2019, just before confirmation of its reorganization plan. My company's reorganization plan is estimated a $3.5 million. A balance sheet prepared on the same date is summarized below: Account Per Books Cash $0 A/R net 800,000 k Plant Assets-net 3,100,000 Total $3,900,000 Post Petition liabilities $1,400,000 Prepction 1. subjects to compromise 1,300,000 Fully secured debt 900,000 Capital stock 700,000 Deficit (400,000 Fully secured debt 900,000 Capital stock 700,000 Deficit (400,000) Total $ 3,900,000 Prepetition liabilities subject to claim calls for payment of $ 200,000, issuance of a $200,000 note and $200,000 Common.stock in settlement of the prepetion liabilities. Do they meet both requirements to qualify for the fresh start reporting plan.? Please show all calculations for each of the 2 criteria. 2. My Company filed for Chapter 11 Bankruptcy on January 1, 2019, just before confirmation of its reorganization plan. My company's reorganization plan is estimated a $3.5 million. A balance sheet prepared on the same date is summarized below: Account Per Books Cash $0 A/R net 800,000 k Plant Assets-net 3,100,000 Total $3,900,000 Post Petition liabilities $1,400,000 Prepction 1. subjects to compromise 1,300,000 Fully secured debt 900,000 Capital stock 700,000 Deficit (400,000 Fully secured debt 900,000 Capital stock 700,000 Deficit (400,000) Total $ 3,900,000 Prepetition liabilities subject to claim calls for payment of $ 200,000, issuance of a $200,000 note and $200,000 Common.stock in settlement of the prepetion liabilities. Do they meet both requirements to qualify for the fresh start reporting plan.? Please show all calculations for each of the 2 criteria