At the time it defaulted on its interest payments and filed for bankruptcy, the McDaniel Mining Company had the following balance sheet shown below (in thousands of dollars). The court, after trying unsuccessfully to reorganize the firm, decided that the only recourse was liquidation under Chapter 7. Sale of the fixed assets, which were pledged as collateral to the mortgage bondholders, brought in $380,000, while the current assets were sold for another $350,000. Thus, the total proceeds from the liquidation sale were $730,000. The trustee's costs amounted to $55,000; no single worker was due more than the maximum allowable wages per worker; and there were no unfunded pension plan liabilities. Current assets $ 50 40 30 180 300 300 200 200 100 50 -150 $1,000 $ 400 Account payable Net fixed assets 600 Accrued taxes Accrued wages Notes payable Total current liabilities First-mortgage bonds Second-mortgage bonds* Debentures Subordinated debentures Common stock Retained earnings Total assets $1,000 claims Notes *All fixed assets are pledged as collateral to the mortgage bonds. **Subordinated to notes payable only a. How much will McDaniel's shareholders receive from the liquidation? Round your answer to the nearest dollar. 0 b. How much will the mortgage bondholders receive? Round your answer to the nearest dollar. 40000 At the time it defaulted on its interest payments and filed for bankruptcy, the McDaniel Mining Company had the following balance sheet shown below (in thousands of dollars). The court, after trying unsuccessfully to reorganize the firm, decided that the only recourse was liquidation under Chapter 7. Sale of the fixed assets, which were pledged as collateral to the mortgage bondholders, brought in $380,000, while the current assets were sold for another $350,000. Thus, the total proceeds from the liquidation sale were $730,000. The trustee's costs amounted to $55,000; no single worker was due more than the maximum allowable wages per worker; and there were no unfunded pension plan liabilities. Current assets $ 50 40 30 180 300 300 200 200 100 50 -150 $1,000 $ 400 Account payable Net fixed assets 600 Accrued taxes Accrued wages Notes payable Total current liabilities First-mortgage bonds Second-mortgage bonds* Debentures Subordinated debentures Common stock Retained earnings Total assets $1,000 claims Notes *All fixed assets are pledged as collateral to the mortgage bonds. **Subordinated to notes payable only a. How much will McDaniel's shareholders receive from the liquidation? Round your answer to the nearest dollar. 0 b. How much will the mortgage bondholders receive? Round your answer to the nearest dollar. 40000