1. Which one of the following is an unsecured liability with priority in a Chapter 7 bankruptcy? A. Amounts due to pension plans for services rendered 9 months ago. B. Compensation owed to employees for services rendered 7 months ago. C. $20,000 of a $100,000 loan secured with property having a fair value of $80,000. D. Customer deposits for goods or services not delivered.

Miller mfg. is analyzing a proposed project. the company expects to sell 14,300 units, plus or minus 3 percent. the expected variable cost per unit is $15 and the expected fixed cost is $35,000. the fixed and variable cost estimates are considered accurate within a plus or minus 3 percent range. the depreciation expense is $32,000. the tax rate is 34 percent. the sale price is estimated at $19 a unit, give or take 3 percent. what is the net income under the worst case scenario?