The Balance Sheet of Faillite Company Is as Follows:
All

The balance sheet of Faillite Company is as follows:
All liabilities are unsecured. Faillite enters Chapter 7 bankruptcy proceedings. During the next few months, the following transactions were completed:
$$\begin{array} { | l | r | l | r | } \hline \text { Cash } & \$ 10 & \text { Accounts payable } & \$ 300 \\\hline \text { Accounts receivable } & 100 & \text { Loan payable } & 1,400 \\\hline \text { Merchandise } & 400 & \text { Note payable } & 500 \\\hline \text { Plant and equipment, net } & \underline { 1,500 } & \text { Shareholders' equity } & \underline { ( 190 ) } \\\hline & \underline { \$ 2,010 } & &\underline { \$ 2,010 } \\\hline\end{array}$$ •Received $85 from customers in payment of reported receivables. Receivables with a book value of $5 were determined to be uncollectible.
•Sold merchandise with a book value of $300 for $280 in cash.
•Accrued wages of $35, trustee expenses of $5, and taxes of $10.
•Paid 15% of the balance of the accounts, loan, and note payable.
Required
Prepare a statement of realization and liquidation for this period.