The fictional balance sheet of MAC Company using IFRS is shown below. Review it and describe at least three differences in their presentation from what is shown in Exhibit 4–11. Ignore the fact that MAC Company is a corporation.

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A 1 2 3 4 5 Assets 6 Non-current assets 7 Property, plant, and equipment 8 Equipment, net 9 Furniture, net 10 Buildings, net 11 Land 12 Total property, plant, and equipment 13 Intangible assets 14 Trademark 15 Long-term investments 16 Total non-current assets 17 Current assets and receivables 18 Inventory 19 Supplies 20 Prepaid insurance 21 Interest receivable 22 Current portion of note receivable 23 Accounts receivable 42,000 40,000 80,000 70,000 847,800 5,200 27,000 26,800 51,600 235,000 C MAC COMPANY Balance Sheet June 30, 2022 (all amounts in Cad $) 7,000 48,400 287,400 D Shareholders' Equity Issued share capital Liabilities Non-current liabilities Note payable 232,000 Less: current portion of note payable Total non-current liabilities Current liabilities Other current liabilities Goods and services tax payable Current portion of note payable Salaries and wages payable Interest payable Accounts payable Total current liabilities E 220,000 72,200 23,600 64,600 72,200 22,400 24,600 357,000 F 852,000 147,800 564,400