The following balance sheet has been prepared by the accountant for Limestone Company as of June 3, 2017, the date on which the company is to file a voluntary petition of bankruptcy:

LIMESTONE COMPANY Balance Sheet June 3, 2017
Assets
Cash	$	8,000
Accounts receivable (net)		81,000
Inventory		120,000
Land		116,000
Buildings (net)		316,000
Equipment (net)		212,000
Total assets	$	853,000
Liabilities and Equities
Accounts payable	$	130,000
Notes payablecurrent (secured by equipment)		282,000
Notes payablelong term (secured by land and buildings)		206,000
Common stock		136,000
Retained earnings		99,000
Total liabilities and equities	$	853,000

Additional Information

• If the company is liquidated, administrative expenses are estimated at $34,000.
• The accounts payable figure includes $26,000 in wages earned by the company's 12 employees during May. No one earned more than $3,800.
• Liabilities do not include taxes of $30,000 owed to the U.S. government.
• Company officials estimate that 30 percent of the accounts receivable will be collected in a liquidation and that the inventory disposal will bring $96,000. The land and buildings will be sold together for approximately $342,000; the equipment should bring $146,000 at auction.

Prepare a statement of financial affairs for Limestone Company as of June 3, 2017.