The balance sheet of Maple Leaf Company at February 1, 2023, is as follows:

All liabilities are unsecured. On February 1, 2023, Maple Leaf Co. enters Chapter 7 bankruptcy proceedings. During the next two months, the following transactions were completed:

1. Received $125 from customers in payment of reported receivables. The rest of the receivables were determined to be uncollectible.

2. Sold all merchandise for $300 in cash.

3. Sold plant and equipment with a book value of $1,800 for $1,600.

4. Accrued trustee expenses of $10.

5. Paid $2,000 of loans.

Prepare a statement of realization and liquidation for the two-month period.

\begin{tabular}{|l|r|l|c|} \hline Cash & $20 & Loans payable & $2,670 \\ \hline Accounts receivable & 150 & Shareholders' equity & (150) \\ \hline Merchandise & 350 & & \\ \hline Plant and equipment, net & 2,000 & & \\ \hline & $2,520 & & $2,520 \\ \hline \end{tabular}