Kimber Co. is in the process of liquidating and going out of business. The firms accountant has provided the following balance sheet and additional information:

Assets
Cash	$	17,000
Accounts receivable		63,000
Merchandise inventory		112,000
Total current assets				$	192,000
Land	$	49,000
Buildings & equipment		343,000
Less: Accumulated depreciation		(193,000	)
Total land, buildings, & equipment					199,000
Total assets				$	391,000
Liabilities and Stockholders Equity
Accounts payable	$	47,600
Notes payable		58,900
Total current liabilities				$	106,500
Long-term debt					51,900
Total liabilities				$	158,400
Stockholders Equity
Common stock, no par	$	110,000
Retained earnings		122,600
Total stockholders equity					232,600
Total liabilities and stockholders equity				$	391,000

It is estimated that all but 19 percent of the accounts receivable can be collected, and that the merchandise inventory can be disposed of in a liquidation sale for 80 percent of its cost. Buildings and equipment can be sold at $40,000 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 $60,000. In addition to the liabilities included in the balance sheet, $2,220 is owed to employees for their work since the last pay period, and interest of $5,000 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.

Kimber Co. is in the process of liquidating and going out of business. The firms accountant has provided the following balance sheet and additional information:

Assets
Cash	$	17,000
Accounts receivable		63,000
Merchandise inventory		112,000
Total current assets				$	192,000
Land	$	49,000
Buildings & equipment		343,000
Less: Accumulated depreciation		(193,000	)
Total land, buildings, & equipment					199,000
Total assets				$	391,000
Liabilities and Stockholders Equity
Accounts payable	$	47,600
Notes payable		58,900
Total current liabilities				$	106,500
Long-term debt					51,900
Total liabilities				$	158,400
Stockholders Equity
Common stock, no par	$	110,000
Retained earnings		122,600
Total stockholders equity					232,600
Total liabilities and stockholders equity				$	391,000

It is estimated that all but 19 percent of the accounts receivable can be collected, and that the merchandise inventory can be disposed of in a liquidation sale for 80 percent of its cost. Buildings and equipment can be sold at $40,000 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 $60,000. In addition to the liabilities included in the balance sheet, $2,220 is owed to employees for their work since the last pay period, and interest of $5,000 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) Cash Accounts receivable Merchandise inventory Buildings Land 0 Total cash available to stockholders $ 0