Mike is the trustee of an investment trust. He receives $100,000 from Investor 1 and $100,000 from Investor 2 (in that order), which he holds in a single bank account. In breach of trust, Mike then withdraws $100,000 from the account, which he uses to purchase shares. Investor 3 then invests $100,000, which Mike deposits into the same account. The shares increase in value to $300,000. What proprietary claims are available to the investors?Required

Mike is the trustee of an investment trust. He receives $100,000 from Investor 1 and $100,000 from Investor 2 (in that order), which he holds in a single bank account. In breach of trust, Mike then withdraws $100,000 from the account, which he uses to purchase shares. Investor 3 then invests $100,000, which Mike deposits into the same account. The shares increase in value to $300,000. What proprietary claims are available to the investors?Mike is the trustee of an investment trust. He receives $100,000 from Investor 1 and $100,000 from Investor 2 (in that order), which he holds in a single bank account. In breach of trust, Mike then withdraws $100,000 from the account, which he uses to purchase shares. Investor 3 then invests $100,000, which Mike deposits into the same account. The shares increase in value to $300,000. What proprietary claims are available to the investors?Mike is the trustee of an investment trust. He receives $100,000 from Investor 1 and $100,000 from Investor 2 (in that order), which he holds in a single bank account. In breach of trust, Mike then withdraws $100,000 from the account, which he uses to purchase shares. Investor 3 then invests $100,000, which Mike deposits into the same account. The shares increase in value to $300,000. What proprietary claims are available to the investors?