Hudson Ltd was placed into liquidation on 31 March 2020. The cash available after all assets have been realised and liabilities and expenses paid was $5,000. The share capital of Hudson Ltd immediately prior to liquidation was as follows. Hudson Ltd (in Liquidation) - Extract from Balance Sheet Issued Capital Shares 7% $2.00 Cumulative Preference Shares (called to $1.90) 1,000 A $1.00 Ordinary Shares (called to 50c) 10,000 'B' $1.00 Ordinary Shares (called to 50c) 10,000 less Calls in arrears (10c per share) Total $ 1,900 5,000 5,000 (500) 11,400 Required a) Calculate the total notional cash available for distribution to shareholders. (3 marks) + b) Explain the purpose of liquidation