$(8$ points$)$ Firm ABC had the following balance sheet $($in thousands of dollars$)$ when it filed for bankruptcy. The court determined that the only recourse was liquidation for the firm under Chapter $7.$ Sale of the fixed assets, which were pledged as collateral to the mortgage bondholders, brought in $$400,000,$ while the current assets were sold for $$200,000.$ The cost related to the works done by the trustee amounted to $$50,000,$ no single worker was due more than the maximum allowable wages per worker, and there were no unfunded pension plan liabilities. Current assets Net fixed assets $$500700$ $$504535180$ Accounts payable Accrued taxes Accrued wages Notes payable Total current liabilities First$-$mortgage bonds a Second$-$mortgage bonds a Debentures Subordinated debentures b Common stock Retained earnings Total claims $$310350200200120170(150)$ $$1,200$ Total assets $$1,200$ a All fixed assets are pledged as collateral to the mortgage bonds. b Subordinated to notes payable only. $($a$)$ How much will ABC's shareholders receive from the liquidation? $(2$ points$)($b$)$ How much will the mortgage bondholders receive? $(2$ points$)($c$)$ Who are the other priority claimants $($in addition to the mortgage bondholders$)?$ How much will they receive from the liquidation? $(2$ points$)($d$)$ Who are the remaining general creditors? How much will each receive from the distribution before subordination adjustment? What is the effect of adjusting for subordination? $(2$ points$)$