Liquidation At the time it defaulted on its interest payments and filed for bankruptcy, the McDaniel Mining Company had the balance sheet shown below (in thousands of dollars). The court, after trying unsuccessfully to reorganize the firm, decided that the only recourse was liquidation under Chapter 7. Sale of the fixed assets, which were pledged as collateral to the mortgage bondholders, brought in $430,000, while the current assets were sold for another $300,000. Thus, the total proceeds from the liquidation sale were $730,000. The trustee's costs amounted to $55,000; no single worker was due more than the maximum allowable wages per worker; and there were no unfunded pension plan liabilities. Current assets Net fixed assets Total assets Notes: $ 400 600 Account payable Accrued taxes Accrued wages $ 50 40 30 Notes payable 180 Total current liabilities $ 300 First-mortgage bonds 300 Second-mortgage bonds* 200 Debentures 200 Subordinated debentures 100 Common stock 50 Retained earnings $1,000 Total claims (150) $1,000 *All fixed assets are pledged as collateral to the mortgage bonds. bSubordinated to notes payable only. a. How much will McDaniel's shareholders receive from the liquidation? Round your answer to the nearest dollar. If no entry is required, enter "0". $ b. How much will the mortgage bondholders receive? Round your answer to the nearest dollar. $ c. How much will the other priority claimants receive from the liquidation? Do not round intermediate calculations. Round your answers to the nearest dollar. Claimant Trustee's expenses Workers' wages due Amount $ $ Governments' taxes due Total $ $ d. How much will the remaining general creditors receive from the distribution before subordination adjustment? Do not round intermediate calculations. Round your answers to the nearest dollar. Account Accounts payable Notes payable Amount Received $ $ Second mortgage bonds $ Debentures $ Subordinated debentures $ Total $ What is the effect of adjusting for subordination? Do not round intermediate calculations. Round your answers to the nearest dollar. If no entry is required, enter "0".