Alexander Corporation is experiencing difficulty in paying its bills and is considering filing for bankruptcy. Current data show: Book Est. Realizable Assets Value Value Cash P 4,000 P 4,000 Accounts Receivable 40,000 30,000 Inventory - Materials 36,000 27,000 Inventory - Finished Goods 50,000 55,000 Prepaid Expenses 1,000 0 Land 10,000 42,000 Building 70,000 60,000 Trucks 20,000 6,000 Equipment 45,000 25,000 Intangibles 16,000 Total Assets P292,000 Liabilities Secured by: Accounts Payable P 77,000 Bank Loan 25,000 80% of receivables Wages Payable 12,000 Taxes Payable 8,000 Truck Loan 5,000 Truck with P12,000 BV & P3,500 ERV Mortgage Payable 43,000 Land and Building Loan Payable 50,000 Finished Goods Shareholder Loan 110,000 Not subordinated to other debt Shareholders' Equity (38,000) Total Liabilities and Equity P292,000 REQUIREMENT: Prepare a Statement of Affairs for Alexander Corporation