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The following balance sheet has been prepared by the accountant for Limestone Company as of June 3, 2020, the date on which the company is

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The following balance sheet has been prepared by the accountant for Limestone Company as of June 3, 2020, 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 $30,000. - The accounts payable figure includes $22,000 in wages eamed by the company's 12 employees during May. No one earned more than $3,400. - Llabilities do not include taxes of $26,000 owed to the U.S. government. - Company offials estimate that 30 percent of the accounts recelvable will be collected in a liquidation and that the inventory disposal will bring $92,000. The land and bulldings will be sold together for approximately $334,000; the equipment should bring $142,000 at auction. Prepare a statement of financial affairs for Limestone Company as of June 3, 2020

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