The following balance sheet has been prepared by the accountant for Limestone Company as of June 3, 2015, the date on which the company is to file a voluntary petition of bankruptcy:

LIMESTONE COMPANY Balance Sheet June 3, 2015
Assets
Cash	$	9,000
Accounts receivable (net)		71,000
Inventory		100,000
Land		106,000
Buildings (net)		306,000
Equipment (net)		192,000
Total assets	$	784,000
Liabilities and Equities
Accounts payable	$	110,000
Notes payablecurrent (secured by equipment)		262,000
Notes payablelong term (secured by land and buildings)		196,000
Common stock		126,000
Retained earnings		90,000
Total liabilities and equities	$	784,000

Additional Information

	If the company is liquidated, administrative expenses are estimated at $24,000.
	The Accounts Payable figure includes $16,000 in wages earned by the companys 12 employees during May. No one earned more than $2,800.
	Liabilities do not include taxes of $20,000 owed to the U.S. government.
	Company officials estimate that 32 percent of the accounts receivable will be collected in a liquidation and that the inventory disposal will bring $86,000. The land and buildings will be sold together for approximately $322,000; the equipment should bring $136,000 at auction.

Prepare a statement of financial affairs for Limestone Company as of June 3, 2015.