Use the attached table to fill in the Amount Exempt and Category of Exemption columns (I did the first one for you so you can see what I mean). Assume that Mr. Farquarr is filing for Chapter 7 bankruptcy Calculate the net assets available to creditors (total assets minus total exemptions). Below is a list of assets for Farquarr Mule Skinners, a sole proprietorship of Mr. Gomer Farquarr (45 years old, unmarried, one dependent child). Description Mkt. Value Amt Exempt Category of exemption (and reason why it should be (if any) exempt) 529 plan held for child $30,000 $25,000 Funds in a qualified 529 plan to a limit of $25,000 for a child of the debtor. 1C-1601(a)(10) Cash in savings account $10,000 Mutual funds in a regular (non- retirement) brokerage account. $22,900 Individual Retirement Account $67,500 balance in an Etrade IRA account Home Furniture (all bought years ago) $4,000 Mule harnesses, reins, and other equipment $2,500 Personal residence ($100,000 still owed on mortgage) $200,000 Barn and outbuilding $35,700 Pick-up truck (owned outright) $13,900 80-inch wide-screen TV (bought last week) $5,000 Total Assets Total Exemptions (add up exempt amounts) Net amount available to Creditors (Total Assets minus Total $391,500