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Dead-as-a-Doornail Business recently failed and will be liquidated by a court-appointed trustee, who will charge $300,000 for her services. The preliquidation balance sheet follows. Assume

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Dead-as-a-Doornail Business recently failed and will be liquidated by a court-appointed trustee, who will charge $300,000 for her services. The preliquidation balance sheet follows. Assume that the trustee liquidates the assets for $5.8 million, with $3.6 million coming from the sale of current assets and $2.2 million coming from fixed assets. Also assume that the unsecured bonds are subordinate to the notes payable. Cash $100,000 Accounts Payable $1,200,000 Marketable Securities $50,000 Notes Payable $1,100,000 Accounts Receivable $1,100,000 Accrued Wages $300,000 Inventories $2,400,000 Unpaid Employee Benefits $200,000 Prepaid Expenses $400,000 $250,000 Unsecured Customer Deposits Total Current Assets $4,050,000 Taxes Payable $100,000 Total Current Liabilities $3,150,000 Land $1,000,000 First Mortgage $1,500,000 Net Plant $2,100,000 Second Mortgage $1,000,000 Net Equipment $2,300,000 Unsecured Bonds $2,000,000 Total Fixed Assets $5,400,000 Total Long-Term Debt $4,500,000 $500,000 Preferred Stock (5,000 Shares) $1,000,000 Common Stock (10,000 Shares) Retained Earnings $300,000 Total Stockholders' Equity $1,800,000 Total Assets $9,450,000 Total Claims $9,450,000 Hint: The second mortgage holders are subordinated to the first mortgage holders. These mortgages are on the firm's total fixed assets. Using a spreadsheet, or otherwise, determine the actual payout made to each of the unsecured creditors listed below. Give your answers to the nearest whole dollar in each case. Do not include comma separators in your answer. Accounts Payable: $ Notes Payable: $ Second Mortgage: $ (Only the amount paid after their portion from the sale of fixed assets) Unsecured Bonds: $

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