The following balance sheet represents Boles Electronics Corporation's position at the time it filed for bankruptcy (in thousands of dollars): Cash 10 Account payable $ 1,600 Receivables 100 Notes payable 500 Inventories 890 Wages payable 150 Taxes payable 50 Total current $ 1,000 Total current liabilities $ 2,300 assets Net plant 4,000 Mortgage bonds 2,000 Net equipment 5,000 Subordinated debentures 2,500 Preferred stock 1,500 Common stock 1,700 Total assets $10,000 Total claims $10,000 The mortgage bonds are secured by the plant but not by the equipment. The subordinated debentures are subordinated to notes payable. The firm was unable to reorganize under Chapter 11; therefore, it was liquidated under Chapter 7. The trustee, whose legal and administrative fees amounted to $125,000, sold off the assets and received the following proceeds (in thousands of dollars): Asset Proceeds Plant $1.100 Equipment 3,200 Receivabies 52 Inventories 380 Total $4,732 In addition, the firm had $10.000 in cash avaiable for distribution, No singe wage eatner had claima exceeding te maximu ailowable weges per werkes and there ivere no unfunded pension plan labities. antonies 386 $4,732 ddition, the firm had $10,000 in cash available for distribution. No single wage earner had daims exceeding the maximum allowable wages per worker, and there were no unfunded sion plan liabilities. a. What is the total amount available for distribution to all caimants? Round your answer to the nea %24 dollar. What is the total of creditor and trustee daims? Round your answer to the nearest dollar. %2. Will the preferred and common stockholders receive any distributions? Select- b. Determine the dollar distribution to each creditor and to the trustee. What percentage of each daim is satisfied? Enter your answers in thousands. For example, an answer of $1.2 thousand should be entered as 1.2, not 1.200. Do not round intermediate calculations. Round your answers to two decimal places. The liquidation distribution (in thousands of dollars): Claimant Dollar Distribution Percentage Accounts payable Notes payable %24 Wages payable Taxes payable Mortgage bonds Subordinated Debentures Trustee Continu thet ar 221 pa/12/2 The following balance sheet represents Boles Electronics Corporation's position at the time it filed for bankruptcy (in thousands of dollars): Cash 10 Account payable $ 1,600 Receivables 100 Notes payable 500 Inventories 890 Wages payable 150 Taxes payable 50 Total current $ 1,000 Total current liabilities $ 2,300 assets Net plant 4,000 Mortgage bonds 2,000 Net equipment 5,000 Subordinated debentures 2,500 Preferred stock 1,500 Common stock 1,700 Total assets $10,000 Total claims $10,000 The mortgage bonds are secured by the plant but not by the equipment. The subordinated debentures are subordinated to notes payable. The firm was unable to reorganize under Chapter 11; therefore, it was liquidated under Chapter 7. The trustee, whose legal and administrative fees amounted to $125,000, sold off the assets and received the following proceeds (in thousands of dollars): Asset Proceeds Plant $1.100 Equipment 3,200 Receivabies 52 Inventories 380 Total $4,732 In addition, the firm had $10.000 in cash avaiable for distribution, No singe wage eatner had claima exceeding te maximu ailowable weges per werkes and there ivere no unfunded pension plan labities. antonies 386 $4,732 ddition, the firm had $10,000 in cash available for distribution. No single wage earner had daims exceeding the maximum allowable wages per worker, and there were no unfunded sion plan liabilities. a. What is the total amount available for distribution to all caimants? Round your answer to the nea %24 dollar. What is the total of creditor and trustee daims? Round your answer to the nearest dollar. %2. Will the preferred and common stockholders receive any distributions? Select- b. Determine the dollar distribution to each creditor and to the trustee. What percentage of each daim is satisfied? Enter your answers in thousands. For example, an answer of $1.2 thousand should be entered as 1.2, not 1.200. Do not round intermediate calculations. Round your answers to two decimal places. The liquidation distribution (in thousands of dollars): Claimant Dollar Distribution Percentage Accounts payable Notes payable %24 Wages payable Taxes payable Mortgage bonds Subordinated Debentures Trustee Continu thet ar 221 pa/12/2