PROBLEM 16 You are asked by a liquidator of a company to prepare a statement mondunt to be laid before a meeting of the shareholders from the following: BALANCE SHEET as on date of Liquidation I-1-2010 Fixed Assets Book Debts 3,20,000 Loss-to-date 4,00,00 3,00,00 1,00,00 Share Capital : 4,000 Equity Shares of * 100 each, called * 80 1,000 Preference Shares of * 100 each. called