Perfect Enterprises filed a Chapter 7 bankruptcy petition. The trustee of the estate has sold all nonexempt assets, performed all other work, and is now ready to distribute the assets of the estate. The only asset in the estate is cash of $144,000. The following are all of the validly filed claims against the estate.
How much would each creditor receive in the distribution?

Trustee’s fee $10,000
Attorney fees for assisting Trustee $ 6,000
Accountant fees for assisting Trustee $ 4,000
Unpaid wages for 5 employees of $1,200 each for the month prior to filing the petition 6,000
Federal Taxes $12,000
Unsecured Creditors:
Johnson $20,000
Smith $30,000
Jones $30,000
Secured Creditors:
Brown $80,000
(Browns’ collateral was sold for $70,000 and is part of the $144,000 mentioned above, thus has nor received any money yet)

Prepare the operating activities section—indirect method.(lo 4), apthe income statement of paxson company is presented here.paxson companyincome statementfor the year ended november 30, 2014sales revenue $7,600,000cost of goods sold beginning inventory$1,900,000 purchases4,400,000goods available for sale6,300,000 ending inventory1,600,000total cost of goods sold 4,700,000gross profit 2,900,000operating expenses selling expenses450,000 administrative expenses700,0001,150,000net income $1,750,000additional information: prepare the operating activities section—indirect 1. accounts receivable decreased $380,000 during the year, and inventory decreased $300,000.2. prepaid expenses increased $150,000 during the year.3. accounts payable to suppliers of merchandise decreased $350,000 during the year.4. accrued expenses payable decreased $100,000 during the year.5. administrative expenses include depreciation expense of $110,000.instructionsprepare the operating activities section of the statement of cash flows for the year ended november 30, 2014, for paxson company, using the indirect method.net cash provided $1,940,000