The Big Water Company is in liquidation. All creditors have been paid out in full, leaving $120,000 available for distribution to shareholders.

The following information is extracted from the current balance sheet:

Big Water Company
Issued Capital	$	$
100,000 7% cumulative preference shares, $0.20 uncalled		80,000
200,000 A ordinary shares, fully paid		200,000
200,000 B ordinary shares, $.50 uncalled	100,000
Less: Calls in arrears: $0.10 per share (for 100,000 shares)	(10,000)
Add: Calls in advance : $0.50 per share (for 40,000 shares)	20,000	110,000
Paid up Capital		390,000
Reserves:
General Reserve	20,000
Asset Revaluation Reserve	40,000	60,000
Accumulated Losses		(20,000)
Owners Equity		430,000

Required

Prepare a schedule showing how the funds are made available to, or how the calls are made, for each class of shareholder, taking into consideration the preference shareholders, who have priority in a winding up in relation to the return of the capital.