Flooded by a series of misfortune George Temu files his petition for bankruptcy and R/O is made on him on 30th June 2010. The following information is available; a) His business assets on this date are as follows; Book values ERV Motor vehicles 39,800 21,500 Furniture and fittings 27,400 10,000 Stock in trade 49,800 56,500 Trade debtors 39,600 24,800 Cash in hand and at Bank 7,200 b) A loan secured from TIB at 6% interest on the security of the M/V, was outstanding on this date at shs. 20,600 c) Other business liabilities include; shs 36,200 due to creditors, out of which a claim for shs 2,400 is statute barred. Shs. 9,200 due to Mrs Temu being the amount advanced by her for meeting workers salary for June 2010 Shs 9,200 as salaries to workers for June 2010 Shs. 5,400 due to general manage as his salary for the three month to 30th June 2010 Shs. 650 due to telephone and electricity bills Shs. 350 due as interest on TIB loan. d) In the event of cessation of business shs. 24,500 will become payable to the employees as compensation. e) Net trading loss and household expenses of Temu, who had no other source of income, inrespect of the year to 30th June 2010 amounts to shs 13,800 and 19500 respectively. f) Temu personal liabilities on this date consist of Shs. 24,800 due in respect of gambling debts Shs. 3,100 due in respect of liquor bill Shs. 8,500 due as medical bills Shs. 26,300 due as income tax made up as follows Year of assessment Income tax Interest Assessment 2006 11,400 1,900 06.10.2007 2007 8,000 700 14.07.2009 2008 2,500 01.02.2010 2009 1,800 Estimated g) A NBC loan guaranteed by Temu for a friend is outstanding at shs 27,200 h) Only personal assets owned by Temu on this date consist of Music centre expected to realize shs 7,500 Furniture expected to realize shs 6,000 Life policy having surrender value of shs 6,400 Bedding and wearing apparel shs. 5,000 You are required to prepare the Statement of Affairs and the Deficiency Account of George Temu