Statement of Realization and Liquidation

At January 1, 2020, the records of Sharon Thomson, trustee in bankruptcy for Davis Corporation, showed the following:

	Dr (Cr)
Cash	20,000
Assets not realized:
Land	60,000
Building	250,000
Equipment	75,000
Patents	15,000
Liabilities not liquidated:
Accounts payable	(279,000)
Loans payable	(341,000)
Estate deficit	200,000

During January, Thomson sold equipment having a book value of 35,000 for 10,000, and sold the patents for 30,000. Thomson was paid 5,000 as a trustee's fee, and 50,000 was distributed proportionately to the creditors.

Required:

Prepare a statement of realization and liquidation for January and a balance sheet and statement of estate deficit as of January 30, 2020.