The statement of financial position of Rodges Corporation follows (in thousands):

Instructions
Evaluate the statement of financial position. Briefly describe the proper treatment of any item that you find incorrect. Assume the company follows IFRS.

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RODGES CORPORATION Statement of FInancial Position December 31, 2014 Assets Current assets Cash Investments trading (fair value through net income) Accounts receivable Inventory Supplies Investment in subsidiary company Investments Irvestments in shares $26,000 18,000 25.000 20,000 4,000 20,000 $113,000 25,000 Property, plant, and equipment Buildings and land Less: Reserve for depreciation Other assets Irvestment in bonds to be held to maturity (at cost) 91,000 31,000 60,000 19,000 $217,000 Liabilities and Equity Current liabilities Accounts payable Reserve for income taxes Customer accounts with credit balances Deferred credits Unamort zed premium on bonds payable Long-term liabilities Bonds payable Total liabilities Shareholders' equity Common shares issued Earned surplus Cash dividends declared $22,000 15,000 % 37,001 2,000 60,000 99,001 85,000 24,999 8,000 117,999 $217,000