trustee has been appointed for Pace Inc., which is being liquidated under Chapter 7 of the Bankruptcy Code. The following occurred after the assets were transferred to the trustee:

1. Sales on account by the trustee were $75,600. Cost of goods sold were $60,100, consisting of all inventory transferred from Pace.
2. The trustee sold all $13,000 worth of marketable securities for $9,100.
3. Receivables collected by the trustee:

Old:	$	19,600		of the $38,800 transferred
New:	$	45,600

1. Depreciation of $16,900 on the plant assets of $97,000 transferred from Pace recorded.
2. Disbursements by the trustee:

Old current payables:	$	22,400		of the $49,300 transferred
Trustees expenses:	$	6,300

Required: Prepare a statement of realization and liquidation according to the traditional approach illustrated in the chapter.

PACE CORPORATION Statement of Realization and Liquidation Assets Assets to be Realized Assets Realized Assets Acquired Assets Not Realized Supplementary Items Supplementary Credits Supplementary Charges Liabilities Liabilities Liquidated Liabilities to be Liquidated Liabilities Not Liquidated Liabilities Incurred