On June 1. 2008. Bland Corporation prepared a balance sheet just prior to going out ot business. The balance sheet totals showed the following:

Required: 1. How would the balance sheet appear immediately after the sale of the assets for cash for each of the following cases? Use the format given here. 2. How should the cash be distributed in each separate case? (Hint: Creditors must be paid in full before owners receive any payment.) Use the format given here:

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Assets (no cash) $90.000 Liabilities 50.000 Stockholders' equity 40.000