Penn Incorporated's assets have the carrying values and estimated fair values as follows: Carrying value Cash Accounts Receivable Inventory Land Building (net) Equipment (net) Total Penn's debts follow: $ 17,300 60,900 90, 200 101,300 221,500 250, 600 77,546 161,000 101,300 $ 741,800 $ 475,346 Fair value $ 17,300 51,900 66,300 Accounts Payable Wages Payable (all have priority) Taxes Payable Notes Payable (secured by receivables and inventory) Interest on Notes Payable Bonds Payable (secured by land and building) Interest on Bonds Payable Total $95,300 10,000 14,300 190,900 5,700 220,100 12,000 $548,300 Required: a. Prepare a schedule to calculate the net estimated amount available for general unsecured creditors. b. Compute the percentage dividend to general unsecured creditors. c. Prepare a schedule showing the amount to be paid each of the creditor groups upon distribution of the $475,346 estimated to be realizable. Required A Required B Required C Prepare a schedule to calculate the net estimated amount available for general unsecured creditors. PENN INCORPORATED General Unsecured Creditors Total estimated fair values Claims of secured creditors: Notes payable and interest (Receivables and inventory) Bonds payable and interest (Land and Building) Claims of creditors with priority: Wages payable Taxes payable Available to general unsecured creditors < Required A S S Required B > 0 0 0 0 Required A Required B Required C Compute the percentage dividend to general unsecured creditors. Estimated dividend % < Required A Required C > Required A Required B Required C Prepare a schedule showing the amount to be paid each of the creditor groups upon distribution of the $475,346 estimated to be realizable. Group Accounts payable Wages payable Taxes payable Notes payable and interest (Unsecured) Notes payable and interest (Secured) Bonds payable and interest Total Credit balance < Required B Percentage (%) Distributed S Required C >