A receiver was appointed by the court to manage the affairs of Davis Manufacturing Company on March 31, 2012. On this date, the following balance sheet applied:
Davis Manufacturing Company Balance Sheet
March 31, 2012
Cash....................... $ 22,500
Accounts Receivable................ 115,500
Notes Receivable ................ 60,000
Accrued Interest on Notes Receivable......... 1,375
Inventories
Finished Goods................ 140,000
Work in Process................ 97,500
Raw Materials ................... 60,000
Supplies ................... 7,750
Prepaid Expenses................ 3,000
Investment in Stock ................ 66,250
Land ..................... 105,000
Buildings (net) ................ 495,000
Equipment (net) ................ 232,500
Total................ $1,406,375
Notes Payable................ $ 196,000
Accounts Payable................ 587,500
Wages Payable (all with priority) ............ 33,750
Payroll Taxes Payable (all with priority) ......... 5,250
Accrued Interest Payable
On Notes Payable................ 2,750
On Mortgage Note Payable................ 21,250
Mortgage Note Payable................ 440,000
Common Stock.................... 469,000
Retained Earnings (deficit) ............. (349,125)
Total.................... $1,406,375

Additional Information:
1. The cash account includes a $500 travel advance that has been spent.
2. Of the total accounts receivable, $75,000 is believed to be collectible. The remaining accounts are doubtful, but it is believed that about one-third of these will be realized eventually. The accounts receivable are pledged as security on a $10,000 note payable.
3. Notes receivable of $50,000 have been pledged as security on a note payable of $45,000.
This portion of the notes receivable has an estimated realizable value of $35,000. The remaining notes receivable, including the accrued interest, are expected to be fully collected. The $45,000 note payable has accrued interest due of $1,000.
4. The finished-goods inventory is expected to sell at 20% above its cost, with expenses involved in its disposition approximating 10% of selling price. The work in process inventory can be completed at an additional cost of $55,000, of which $40,000 represents materials used from the present raw materials inventory. The completed work in process should then sell for $145,000; the remaining raw materials should sell for one-half their cost. Supplies are expected to realize $1,300.
5. The investment in stock consists of 2,000 shares of Monelli Vineyards. The stock has a current market value of $50 per share and is pledged as security on a note payable of $41,000. Interest accrued on the note payable amounts to $1,750.
6. The land and buildings have been appraised at $165,000 and $260,000, respectively. They are pledged as collateral on the mortgage note payable.
7. The equipment is expected to realize $100,000.
8. Prepaid expenses are nonrealizable.

Required:
A. Prepare a statement of affairs.
B. Prepare a deficiency account detailing estimated gains and losses.
C. Calculate the dividend rate per dollar of unsecured liabilities.