The XYZ company filed for and was granted an order for relief on January 2, 2016. On January 2, 2017, the trustee for the XYZ Company asked for a Statement of Financial Affairs as of December 31, 2016. The following information was provided: A list of assets and liabilities ( Book Values) are as follows.

Accounts payable incurred before January 2, 2016............. $5,000

Accounts payable incurred after January 2, 2016..................$2,000

Notes payable secured by land with an estimated fair value of $120,000............$100,000

Note payable secured by inventory with an estimated fair value of $40,000......$50,000

Salaries payable - one employee (Not an officer)...............................................................$15,000

Salaries payable - the CEO of XYZ Co ...................................................................................$20,000

Salaries Payable - two employees - not officers ................................................................$12,000

Administrative expenses ................................................................................................................$20,000

Salaries payable incurred after January 2, 2016..................................................................$5,000

Cash............................................................................................................................................. $120,000

Accounts receivable- fair value 25,000..........................................................................$30,000

Inventories...................................................................................................................................$50,000Land...............................................................................................................................................$100,000

Intangibles....................................................................................................................................$10,000

1. What are the liabilities with priority
2. What are the partially secured liabilities
3. What are the secured liabilities
4. What are the free assets
5. How much, if any, will be paid to the accounts payable incurred before January 2, 2016? Please calculate