Problem # 1- Telstar Co. had severe financial difficulties and was considering the possibility of filing a bankruptcy petition. At that time, the company had the following assets (stated at net realizable value) and liabilities. (15 points)

Assets (pledged against debts of $91,000) 150,800

Assets (pledged against debts of $169,000) 65,000

Other assets 104,000

Liabilities with priority 54,600

Unsecured creditors 60,000

A) Prepare a schedule to show the amount of total assets available to pay liabilities with priority and unsecured creditors

B) Prepare a schedule to show the amount of assets that are available for unsecured creditors after payment of liabilities with priority

C) Prepare a schedule to show the amount of total unsecured liabilities

D) Prepare a schedule to show the amount of total payment on partially secured debt