Toys R Us Corp., about to be liquidated, has the following amounts for its assets and liabilities:

Question #2: Toys R Us Corp., about to be liquidated, has the following amounts for its assets and liabilities: Net Realizable Value $ 140,000 100,000 350,000 160,000 Book Value $ 200,000 70,000 500,000 300,000 240,000 60,000 510,000 80,000 Current assets Land Building Equipment Accounts payable Income taxes payable Mortgage payable Note payable The mortgage is secured by the land and building, and the note payable is secured by the equipment. Quincy expects that the expenses of administering the liquidation will total $40,000. Prepare a Statement of Financial Affairs for Toys R Us Corp