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The following balance sheet has been prepared by the accountant for Limestone Company as of June 3,2024 , the date on which the company is

image text in transcribedimage text in transcribedimage text in transcribed The following balance sheet has been prepared by the accountant for Limestone Company as of June 3,2024 , the date on which the company is to file a voluntary petition of bankruptcy: Additional Information - If the company is liquidated, administrative expenses are estimated at $41,000. - The accounts payable figure includes $33,000 in wages earned by the company's 12 employees during May. No one earned more than $4,500 of that total. - Liabilities do not include taxes of $37,000 owed to the U.S. government. - Company officials estimate that 36 percent of the accounts receivable will be collected in a liquidation and that the inventory disposal will bring $103,000. The land and buildings will be sold together for approximately $356,000; the equipment should bring $153,000 at auction. Required: Prepare a statement of financial affairs for Limestone Company as of June 3, 2024. \begin{tabular}{|l|l|l|l|} \hline \hline Book Values & Liabilities and Stockholders' Equity & & UnsecuredNonpriorityLiabilities \\ \hline & Liabilities with Priority: & & \\ \hline & & & \\ \hline & & & \\ \hline & Total & & \\ \hline & Fully Secured Creditors: & & \\ \hline & & & \\ \hline & & & \\ \hline & Partially Secured Creditors: & & \\ \hline & & & \\ \hline & & & \\ \hline & Unsecured Creditors: & & \\ \hline & & & \\ \hline & & & \\ \hline & Stockholders' equity & & \\ \hline \end{tabular}

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