Cambria, Inc. is being liquidated under Chapter 7 of the Bankruptcy Act. Its current balance sheet is shown below. Fixed assets are sold for $40,000,000 and current assets are sold for $10,000,000. All fixed assets are pledged as collateral for all mortgage bonds. Subordinated debentures are subordinate only to notes payable. Trustee costs are $1,000,000. No employee is owed over $2,000.

	Before			Before
	Default		Balance Sheet	Default
Current Assets	45,000,000		Accounts payable	15,000,000
Net fixed assets	85,000,000		Accrued taxes	10,000
			Accrued wages	550,000
			Notes payable	3,800,000
			Total current liabilities	19,360,000
			First-mortgage bonds	18,000,000
			Second-mortgage bonds	25,000,000
			Debentures	45,000,000
			Subordinated debentures	14,000,000
			Common stock	2,500,000
			Retained earnings	6,140,000
Total assets	130,000,000	-	Total claims	130,000,000
a. How much will SHs receive?
b. How much will mortgage bondholders receive?
c. How much will priority creditors receive?

d. Identify the remaining general creditors. How much will each receive before subordination adjustment?

e. How much will each of the general creditors receive after subordination adjustment?