On 30 April2017ForeverIsNotEnoughLtd went into liquidation, its equity being as follows:

75000 ordinary shares issued and fully paid

Retained earnings$175 000(35 600)$139 400

Debts proved and admitted for payment by the liquidator were

:Debentures (secured by circulating security $100,000

interest)

Mortgage loan (secured over land $240,000

Building $45,800

Unpaid annual leave $56,000

Employee retrenchment payments $8,400

Director's salary $2,400

Directors' fees $6200

PAYG tax instalments $125,000

Accounts payable $1,300

Liquidation expenses $5,000

Liquidator's remuneration

The land and buildings were seized by the secured creditor andsold to repay the mortgage loan. Surplus funds amounting to $5000 were forwarded to the liquidator. All other assets were sold and realised $230000. Any calls which the liquidator may need to make are expected to be recoverable.

RequiredPrepare the liquidator's statement of receipts and payments (show debts in order of priority of payment) and the Shareholders'Distribution account for ForeverIsNotEnoughLtd. (Show all calculations.)

Hope you will help me thank you