Chapter 5: Ques 2:

Ayayai Inc. had the following statement of financial position at the end of operations for 2019:

AYAYAI INC. Statement of Financial Position December 31, 2019
Cash		$20,000		Accounts payable		$30,000
Accounts receivable		21,200		Bonds payable		41,000
FV-NI investments		32,000		Common shares		100,000
Equipment (net)		81,000		Retained earnings		23,200
Land		40,000
		$194,200				$194,200

During 2020, the following occurred:

1.	Ayayai liquidated its FV-NI investments portfolio at a loss of $6,000.
2.	A parcel of land was purchased for $39,000.
3.	An additional $32,000 worth of common shares was issued.
4.	Dividends totalling $11,000 were declared and paid to shareholders.
5.	Net income for 2020 was $32,300, including $12,000 in depreciation expense.
6.	Land was purchased through the issuance of $35,000 in additional bonds.
7.	At December 31, 2020, Cash was $67,500; Accounts Receivable was $42,000; and Accounts Payable was $40,000.

a) Present the statement of financial position as it would appear at December 31, 2020. (List Assets in order of liquidity.)

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