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: LIMESTONE COMPANY Balance Sheet June 3, 2020 Assets Cash Accounts receivable (net) Inventory Land Buildings (net) Equipment (net) Total assets Liabilities and Equities Accounts payable Notes payable-current (secured by equipment) Notes payable-long-term (secured by land and buildings) Common stock Retained earnings Total liabilities and equities $ 17,000 90,000 138,000 125,000 325,000 230,000 $ 925,000 $ 148,000 300,000 215,000 145,000 117,000 $ 925,000 Additional Information If the company is liquidated, administrative expenses are estimated at $43,000. The accounts payable figure includes $35,000 in wages earned by the company's 12 employees during May. No one earned more than $4,700. Liabilities do not include taxes of $39,000 owed to the U.S. government. Company officials estimate that 35 percent of the accounts receivable will be collected in a liquidation and that the inventory disposal will bring $105,000. The land and buildings will be sold together for approximately $360,000; the equipment should bring $155,000 at auction. Prepare a statement of financial affairs for Limestone Company as of June 3, 2020