The following items were taken from the financial statements of J. Kung Enterprises. (All amounts are in thousands.)

Instructions

Prepare a classified statement of financial position in good form as of December 31, 2020.

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Long-term debt Prepaid insurance Equipment Share investments (long-term) Debt investments (short-term) Notes payable (due in 2021) Cash HK$ 1,000 Accumulated depreciation-equipment HK$ 5,655 1,214 400 11,455 1,500 1,696 1,256 Accounts payable Notes payable (due after 2021) Share capital-ordinary Retained earnings Accounts receivable 650 11,500 264 3,690 500 2,668 Inventory