ABC Corporation is undergoing liquidation. On January 1, 2016 its Statement of Financial Position showed the following accounts:

Assets Liabilities and Equity

Cash P150,000 Salaries payable P85,000

Accounts Receivables-net 290,600 Accounts Payable 120,700

Inventory 50,000 Mortgages Payable 428,000

Prepaid Expenses 10,400 Loan Payable 130,000

Building 380,000 Notes Payable 84,300

Goodwill 80,000 Ordinary Shares 170,000

Deficit (57,000)

Total P961,000 Total P961,000

The mortgage payable is secured by the Building having a realizable value of P400,000. Accounts Payable amounting to P75,000 is secured by receivables amounting to P 90,600 (P9,900 of which is uncollectible).

The balance of receivables which has a realizable value of P187,500 is used to secure the loan payable. Inventory has a reelizable value of P41,200. In addition to recorded liabilities are: accrued interest on mortgage payable amounting to P4,280, liquidation expenses amounting P11,300 and taxes amounting to P5,600

(NOTE: Use 2 decimal places for estimated recovery percentage ex. 88.89%)

What are the net free assets?

What is the estimated payment to unsecured creditors without priority?

What is the estimated payment to partially secured creditors?

What is the estimated deficiency percentage to fully secured creditors?