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Garcia & Associates Inc: was a mid-size company that was started five years ago by Kenneth Garcia with the support of four private investors. They

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Garcia \& Associates Inc: was a mid-size company that was started five years ago by Kenneth Garcia with the support of four private investors. They initially invested $372,000 each for a total of $1.49 million and took back 15,000 common shares. The company also issued $1,980,000 in preferred shares and secured a long-term loan for $496,000. The company had a few successful years: however; it succumbed to competition and it eventually ran out of funding. There are no dividends in arrears on the preferred shares. The : company did successfully develop several products that it patented and it acquired assets to manufacture those products-all of which still have value. The shareholders are planning an organized windup of the company and plan to sell all the assets at an auction. A summary of the company's statement of financial position is as follows: How much will each group of shareholders receive on the windup if Garcia \& Associates is able to sell its assets for: i. $1,706,000 ? ii. $4,799,000 ? iii. $5,956,000

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