Kimber Co. is in the process of liquidating and going out of business. The firm's accountant has provided the following balance sheet and additional information: Assets Cash Accounts receivable Merchandise inventory Total current assets Land Buildings & equipment Less: Accumulated depreciation Total land, buildings, & equipment Total assets Liabilities and Stockholders' Equity Accounts payable Notes payable Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock, no par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 30,000 90,000 150,000 $ 270,000 $ 50,000 400,000 (120,000) $ 80,000 110,000 $ 100,000 180,000 330,000 $ 600,000 $ 190,000 130,000 $ 320,000 280,000 $ 600,000 It is estimated that all but 20 percent of the accounts receivable can be collected, and that the merchandise inventory can be disposed of in a liquidation sale for 70 percent of its cost. Buildings and equipment can be sold at $60,000 above book value (the difference between original cost and accumulated depreciation shown on the balance sheet), and the land can be sold at its current appraisal value of $85,000. In addition to the liabilities included in the balance sheet, $5,000 is owed to employees for their work since the last pay period, and interest of $10,000 has accrued on notes payable and long-term debt. Required: a. Calculate the amount of cash that will be available to the stockholders if the accounts receivable are collected, the other assets are sold as described, and all liabilities and other claims are paid in full. Total cash available (including sale of assets) Accounts payable Notes payable Long-term debt Wages payable Interest payable Total cash available to stockholders $ 578,000 80,000-> 110.000 130,000 5,000 10.000 335,000 $ 243,000