ADDITIONAL INFORMATION1. Accounts receivable are pledged as security for the not

ADDITIONAL INFORMATION1. Accounts receivable are pledged as security for the note payable.2. No more than $1000 is owed to any employee.3. Taxes payable is a priority item.4. Inventory items include $50000 acquired on July 5 2011; the unpaid invoice is included in accounts payable.5. The mortgage payable and interest are secured by the land and buildings.6. Trustee fees and other costs of liquidating the estate are expected to be $11000.REQUIRED1. Prepare a statement of affairs for Dawn Corporation on July 10 2011.2. Develop a schedule showing how available cash will be distributed to each class of claims assuming that (a) the estimated realizable values are actually received and (b) the trustee and other fees of liquidating the estate are$11000.