The trustee has arranged the sale of Celestial Crane Cosmetics's assets and estimates to receive $10.00 million in proceeds from the liquidation. Proceeds from the liquidation will be used to settle Celestial Crane Cosmetics's liabilities. Based on your understanding of distribution of assets to various claimants, how much will common stockholders receive (if they receive anything at all) when Celestial Crane Cosmetics is liquidated? $2, 875,000 $1, 512, 500 $1, 375,000 $2, 500,000 The bankruptcy courts and the company have discretion in how they elect to handle a failing firm. Just as the decision to reorganize or liquidate the firm depends on the relationship between its going concern and its liquidation values, the significance and competitiveness of the industry in which the failing firm operates also affects the court's decision. If Celestial Crane Cosmetics were a public utility company or a railroad service company instead of an industrial corporation, the bankruptcy courts would likely push for: Reorganization Liquidation