Current Attempt in Progress The bookkeeper for Bramble Corp. has prepared the following statement of financial position as at July 31, 2020: BRAMBLE CORP Statement of Financial Position As at July 31, 2020 $84,000 Notes and accounts payable 39,800 Long-term liabilities Cash $61,000 Accounts receivable (net) 87,000 Inventory 78,000 Shareholders' equity 263,800 171,000 Equipment (net) Patents (net) 39,000 $411.800 $411,800 The following additional information is provided: 1. 2. 3. 4. Cash includes $2,700 in a petty cash fund and $23,000 in a bond sinking fund. The net accounts receivable balance is composed of the following three items: (a) accounts receivable debit balances $54,000; (b) accounts receivable credit balances $9,700; and (c) allowance for doubtful accounts $4,500. Inventory costing $6,500 was shipped out on consignment on July 31, 2020. The ending inventory balance does not include the consigned goods. Receivables of $6,500 were recognized on these consigned goods. Equipment had a cost of $213,000 and an accumulated depreciation balance of $42,000. Income Tax Payable of $10,700 was accrued on July 31. Bramble Corp., however, had set up a cash fund to meet this obligation. This cash fund was not included in the cash balance, but was offset against the income tax payable account. Long-term liabilities are bonds payable issued at par, due in 2025. Shareholders' equity is made up of two account balances: Common Shares of $175,900 and Retained Earnings of $87,900. 5. 6. 7. Use the information available to prepare a corrected clealed abiment of Financial pallone July 21, 2020. (Adjust the count balances and on the adultional Information Lit Current Assets in order of liquidity) BRAMBLE Corp. Statement of Financial Poaltion Assets > > > Liabiles and Shareholders Equity > 3 Total Current Liabilities Intangible Assets Total Current Assets Long-Term Investments Total Assets Long-term Liabilities Current Liabilities Total Liabilities Shareholders' Equity Current Assets Total Liabilities and Shareholders' Equity Total Shareholders' Equity Property, Plant, and Equipment