ABC Corporation is liquidating under Chapter 7 of the Bankruptcy Act. The accounts at the time of filing are summarized as follows:

Book Value Est Rel Value

Cash $ 55,000 $ 55,000

Accounts receivable-net 56,800 50,000

Prepayments 25,200 10,000

inventory 135,600 115,000

Equipment 175,000 150,000

Building 210,000 200,000

Land 165,000 215,000

Goodwill 330,000 0

1,152600

Accounts payable $ 618,000

Wages and salaries 165,000

Deposits payable 15,000

Taxes payable 62,000

Bank Loan 100,000

Note payable 90,000

Mortgage payable 245,700

Capital stock 150,000

Deficit (293,100)

$ 1,152,600

The land is pledged as security for the mortgage payable. The bank loan is secured on the inventory. The note payable is unsecured. Wages and salaries were earned within 90 days of filing the bankruptcy petition and two employees- Anthony Ewing was $24,900 and Emma Tun was $35,200 exceeding the $15,600 priority amount. The Deposit payable was on consumer layaway deposits, and none exceeded the priority limit. Liquidation expenses are expected to be $ 75,000.