Circle-Square, Ltd., is in the process of liquidating and going out of business. The firms balance sheet shows $50,000 in cash, accounts receivable of $240,000, inventory totaling $110,000, plant and equipment of $500,000, and total liabilities of $620,000. It is estimated that the inventory can be disposed of in a liquidation sale for 70 percent of its cost, all but 10 percent of the accounts receivable can be collected, and plant and equipment can be sold for $360,000