Penn Inc.s assets have the carrying values and estimated fair values as follows:

	Carrying Value			Fair Value
Cash	$	16,200		$	16,200
Accounts Receivable		60,400			51,600
Inventory		90,100			65,400
Land		100,700			82,000
Building (net)		221,000			160,800
Equipment (net)		250,700			101,300
Total	$	739,100		$	477,300

Penns debts follow:

Accounts Payable	$	96,200
Wages Payable (all have priority)		10,800
Taxes Payable		14,700
Notes Payable (secured by receivables and inventory)		190,300
Interest on Notes Payable		5,500
Bonds Payable (secured by land and building)		221,900
Interest on Bonds Payable		11,400
Total	$	550,800

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 $477,300 estimated to be realizable.