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Jacob's Jewels is preparing for liquidation (balance sheet in $ millions). Trustee's costs total $2M. Sale of the fixed assets. which were pledged as collateral

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Jacob's Jewels is preparing for liquidation (balance sheet in $ millions). Trustee's costs total $2M. Sale of the fixed assets. which were pledged as collateral to the mortgage bondholders, brought in $50M, while the current assets were sold for another $40M. The firm has no accrued taxes or wages. The debentures are subordinated to the notes payable. How are the proceeds from the sale of assets distributed to all stakeholders? Current assets $100 Fixed assets 115 First mortgage 50 Notes payable 75 Subordinated bond 50 Common equity 10 Ttal liabilities & equity $215 Total assets $215 QUESTION: In the text box below, clearly state how the proceeds from the sale of assets are distributed to all stakeholders. [For example, are the holders of notes payable paid in full? If not, how much? Answer for each stakeholder.]

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