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Southwestern Wear Inc. has the following balance sheet: Current assets $1,875,000 Accounts payable $ 375,000 Fixed assets 1,875,000 Notes payable 750,000 Subordinated debentures 750,000 Total

Southwestern Wear Inc. has the following balance sheet:

Current assets $1,875,000 Accounts payable $ 375,000
Fixed assets 1,875,000 Notes payable 750,000
Subordinated debentures 750,000
Total debt $1,875,000
Common equity 1,875,000
Total assets $3,750,000 Total liabilities & equity $3,750,000

The trustee's costs total $312,250, and the firm has no accrued taxes or wages. Southwestern has no unfunded pension liabilities. The debentures are subordinated only to the notes payable. If the firm goes bankrupt and liquidates, how much will each class of investors receive if a total of $3.0 million is received from sale of the assets? Round your answers for monetary values to the nearest dollar and for percentage values to the nearest whole number. If your answer is zero, enter 0. Enter your answers as positive values.

Distribution of proceeds on liquidation:

Proceeds from the sale of assets $__________
Less:
1. First mortgage (paid from the sale of fixed assets) __________
2. Fees and expenses of bankruptcy __________
3. Wages due to workers within 3 months of bankruptcy __________
4. Taxes due to federal, state, and local governments __________
5. Unfunded pension liabilities __________
Funds available for distribution to general creditors $ __________

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