Penn Inc.'s assets have the carrying values and estimated fair values as follows: Cash Accounts Receivable Inventory Land Building (net) Equipment (net) Total Carrying value $ 17,600 60, 500 90,800 100,180 220,900 250,388 $740,200 Fair Value $ 17,600 51,800 65,200 79,422 161,400 101,400 $476,822 Penn's debts follow: 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 $ 97,000 9,500 15,000 190,700 5,200 221,700 11,600 $550,700 Required: a. Prepare a schedule to calculate the net estimated amount available for general unsecured creditors. PENN INC. 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) 0 S 0 Claims of creditors with priority: Wages payable Taxes payable Available to general unsecured creditors 0 S 0 b. Compute the percentage dividend to general unsecured creditors. Estimated dividend % c. Prepare a schedule showing the amount to be paid each of the creditor groups upon distribution of the $476,822 estimated to be realizable. Credit balance Percentage (%) Distributed Group Accounts payable Wages payable Taxes payable Notes payable and interest (Unsecured) Notes payable and interest (Secured) Bonds payable and interest Total $ 0