Chapter 18.5, Problem 18.16RQ

Indicate in which order the following claims would be settled when distributing the proceeds from liquidating a bankrupt firm: (a) claims of preferred stockholders; (b) claims of secured creditors; (c) expenses of administering the bankruptcy; (d) claims of common stockholders; (e) claims of unsecured, or general, creditors; (f) taxes legally due; (g) unsecured deposits of customers; (h) certain eligible wages; (i) unpaid employee benefit plan contributions; (j) unpaid interim expenses incurred between the time of filing and formal action by the court; and (k) claims of farmers or fishermen in a grain-storage or fish-storage facility.