ABC Corporation recently failed and was liquidated by a court appointed trustee who charged $200 ,000 for her services. Between the time of filling of the bankruptcy petition and the entry of an Order for Relief, a total of $100,000 in unpaid bills was incurred and remain unpaid. The pre-liquidation balance sheet is shown.

Cash

$40,000

Marketable securities

30,000

Accounts receivables

620,000

Inventories

1, 200,000

Prepaid expenses

10,000

Total current assets

$ 1,900,000

Lands

$300,000

Net plant

400,000

Net equipment

400,000

Total fixed assets

$ 1,100,000

Total assets

$ 3,000,000

Accounts payable

$200,000

Notes payable

300,000

Accrued wages

50,000

Unsecured customer deposits

30,000

Taxes payable

20,000

Total current liabilities

$600,000

First mortgage

$700,000

Second mo1igage

400,000

Unsecured bonds

300,000

Total long-term debt

$ 1,400,000

Preferred stock

$200,000

Common stock

200,000

Paid-in capital in excess of par

500,000

Retained earnings

100,000

Total stockholders ' equity

Total liabilities and

$ 1,000,000

Owners Equity

$ 3,000,000

Assume that the trustee liquidates the assets for $2.5 million - $1.3 million from current assets and $1.2 million from fixed assets. Indicate the amount to be distributed to each claimant.