Kimber Company 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 and equipment Less: Accumulated depreciation. Total land, buildings, and 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 $ 19,500 64,500 111,000 $ 48,000 347,000 (191,500) $ 48,500 55,200 $110,000 133,400 $ 195,000 203,500 $ 398,500 $ 103,700 51,400 $ 155,100 243,400 $ 398,500 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 80 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 $64,500. In addition to the liabilities included in the balance sheet, $2,160 is owed to employees for their work since the last pay period, and interest of $5,330 has accrued on notes payable and long-term debt.