Financial information for Mario Ltd is presented here.+ MARIO LTD Statement of Financial Position as at 31 December+ 2019+ 2018- S+ ASSETS+ Cash+ 50,000 42,000 Short-term investments+ 80,000+ 50,000+ Receivables (net of allowance for doubtful accounts of 100,000+ 87,000 $4,000 for 2019 and $3,000 for 2018)+ Inventories+ 440,0004 300,000+ Prepaid expenses+ 25,000 31,0004 Land+ 75,000 Building and equipment (net)+ 75,000 570,000 400,000 Total assets+ $1,340,000 $985,000 LIABILITIES AND EQUITY+ Short term provisions+ 125,000 25,000+ Accounts Payable+ 160,000+ 90,000 Accrued Liabilities+ 50,000 50,000 Bonds payable, due 2021+ 200,0004 100,000+ Share capital (100,000 shares)+ 500,000+ 500,000 Retained earnings+ 305,000+ 220,000 Total liabilities and equity $1,340,000 $985,000 MARIO LTD Statement of Profit or Loss for the year ended 31 December 2019+ 2018+ $ S+ Sales+ 1,000,000 940,000 Cost of sales+ (650,000)+ (635,000)+ Gross profit+ 350,000 305,000 Finance cost+ (20,000)+ (10,000) Operating expenses+ (115,000)+ (145,000) Profit before tax+ 215,000 150,000 Tax expenses (100,000)+ (70,000) Profit+ $115,000 $80,000