Parker Inc. has the following cash balances:
First Bank ....... $ 150,000
Second Bank ...... (10,000)
Third Bank ....... 25,000
Fourth Bank ........ (5,000)

Required:
1. Prepare the current assets and current liabilities section of Parker's 2011 balance sheet, assuming Parker reports under U.S. GAAP.
2. Prepare the current assets and current liabilities section of Parker's 2011 balance sheet, assuming Parker reports under IFRS.