A company that was to be liquidated had the following liabilities: 10,000 100,000 251,050 Income Taxes Notes Payable secured by land Accounts Payable Salaries Payable Administrative expenses for...

Determine the total net free assets.

Extracted text: A company that was to be liquidated had the following liabilities: 10,000 100,000 251,050 Income Taxes Notes Payable secured by land Accounts Payable Salaries Payable Administrative expenses for liquidation 12,950 20,000 The company had the following assets: Book Fair Value Value 100,000 50,000 150,000 Current assets 95,000 75,000 200,000 Land Building