ABC Company recently petitioned for bankruptcy and is now in the process of preparing a statement of affairs. The carrying values and estimated fair values of the assets of ABC Company are as follows: Carrying Value Fair Value Cash 16,000 16,000

Accounts Receivable 36,000 24,000

Inventory 48,000 28,000

Land 60,000 56,000

Building (net) 144,000 80,000

Equipment (net) 136,000 64,000

Total 440,000 268,000 Debts of ABC Company are as follows: Accounts payable 48,000

Wages Payable (all have priority) 8,000

Taxes payable 8,000

Notes payable (secured by receivable and inventory) 96,000

Interest on Notes Payable 4,800

Bonds Payable (secured by land and building) 120,000

Interest on bonds Payable 5,600

Total 290,400

5. What is the total amount of unsecured claims?

6. What estimated amount will be available for general unsecured creditors upon liquidation?

7. What is the estimated dividend percentage?