Please include clear details and explanations to calculations. Thank you.

The following balance sheet has been prepared by the accountant for Limestone Company as of June 3, 2020, the date on which the company is to file a voluntary petition of bankruptcy: LIMESTONE COMPANY Balance Sheet June 3, 2020 Assets Cash Accounts receivable (net) Inventory Land Buildings (net) Equipment (net) Total assets Liabilities and Equities Accounts payable Notes payable-current (secured by equipment) Notes payable-long-term (secured by land and buildings) Common stock Retained earnings Total liabilities and equities $ 6,000 68,000 94,000 103,000 303,000 186,000 $ 760,000 $ 104,000 256,000 193,000 123,000 84,000 $ 760,000 Additional Information . If the company is liquidated, administrative expenses are estimated at $21,000. The accounts payable figure includes $13,000 in wages earned by the company's 12 employees during May. No one earned more than $2,500. Liabilities do not include taxes of $17,000 owed to the U.S. government. Company officials estimate that 40 percent of the accounts receivable will be collected in a liquidation and that the inventory disposal will bring $83,000. The land and buildings will be sold together for approximately $316,000; the equipment should bring $133,000 at auction. Prepare a statement of financial affairs for Limestone Company as of June 3, 2020. LIMESTONE COMPANY Statement of Financial Affairs June 3, 2020 Book Assets Values Available for Unsecured Creditors $ 316,000 (193,000) $ 123,000 Pledged with Fully Secured Creditors: $ 406,000 Land and buildings Less: Notes payable-long term Pledged with Partially Secured Creditors: 186,000 Equipment Less: Notes payable-current Free Assets: 6,000 Cash 68,000 Accounts receivable 94,000 Inventory 133,000 256,000 0 6,000 27,200 37,600 X $ 193,800 Total amount available to pay liabilities with priority and unsecured creditors Less: Liabilities with priority Available for unsecured creditors Estimated deficiency 51,000 $ 142,800 X $ 760,000 Book $ 142,800 Unsecured Nonpriority Liabilities Liabilities and Stockholders' Equity Values Liabilities with Priority: Administrative expenses $ 13,000 Salaries payable Taxes payable $ 21,000 13,000 17,000 $ 51,000 193,000 316,000 Total Fully Secured Creditors: 193,000 Notes payable-long term Less: Land and buildings Partially Secured Creditors: 256,000 Notes payable current Less: Equipment Unsecured Creditors: 84,000 X Accounts payable 256,000 133,000 $ 123,000 84,000 X 0 214,000 X Stockholders' equity $ 760,000 $ 207,000