Presented below are selected accounts of Aramis SE at December 31, 2022.

The following additional information is available.

1. Inventory is valued at lower-of-cost-or-net realizable value using FIFO.

2. Equipment is recorded at cost. Accumulated depreciation, computed on a straight-line basis, is €50,600.

3. The trading securities have a fair value of €29,000.

4. The notes receivable are due April 30, 2024, with interest receivable every April 30. The notes bear interest at 6%. (Hint: Accrue interest due on December 31, 2022.)

5. The allowance for doubtful accounts applies to the accounts receivable. Accounts receivable of €50,000 are pledged as collateral on a bank loan.

6. Licenses are recorded net of accumulated amortization of €14,000.

7. Treasury shares are recorded at cost.

Instructions

Prepare the current assets section of Aramis SE’s December 31, 2022, statement of financial position, with appropriate disclosures.

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Inventory (finished goods) € 52,000 Cost of Goods Sold €2,100,000 Unearned Service Revenue 90,000 Notes Receivable 40,000 Equipment 253,000 Accounts Receivable 161,000 Inventory (work in process) 34,000 Inventory (raw materials) 187,000 Cash 42,000 Supplies Expense 60,000 Trading Securities 31,000 Allowance for Doubtful Accounts 12,000 Customer Advances 36,000 Licenses 18,000 Cash Restricted for Plant Expansion 50,000 Share Premium-Ordinary 88,000 Treasury Shares 22,000