$ Balance Sheet of Bubble Ltd. as on December 31, 1998 $ Share Capital: Land & Building 25.000 8,000 preference shares of Rs. 10 each 80,000 Other fixed assets 2,00,000 12,000 equity shares of Rs. 10 each 1,20,000 Stock 5.25.000 Bank loan 8% debentures Debentures 4,00,000 Debtors 1,00,000 1,00,000 Profit & Loss A/c 58.000 Interest outstanding on 8.000 . Creditors 2.00.000 9.08.000. 9.08.000 The company went into liquidation on that date. Prepare the Liquidator's Statement of Account after taking into account the following: (1) Liquidation expenses and liquidator's remuneration amounted to $ 3,000 and $ 10,000 respectively. (2) Bank loan was secured by pledge of stock. (3) Debentures and interest thereon are secured by a floating charge on all assets. (4) Fixed assets were realised at book values and current assets at 80% of book values