Marion $$Services$,$ Ltd$.,$ an IFRS$$ reporter, provided the following comparative balance sheets and income statement for the current year. Marion Services, Ltd$.$ Balance Sheets At December $31$ Assets Current Year Prior Year Current Assets Cash $$306,875$ $$85,740$ Accounts Receivable $-$ net $312,200264,500$ Supplies Inventory $807,000602,900$ Prepaid Expenses $25,22523,260$ Total Current Assets $$1,451,300$ $$976,400$ Noncurrent Assets Held$-$to$-$Maturity Debt Investments $$79,000$ $$121,500$ Land $321,000208,000$ Property, Plant, and Equipment $993,000842,000$ Accumulated Depreciation $(127,000)(45,000)$ Total Noncurrent Assets $$1,266,000$ $$1,126,500$ Total Assets $$2,717,300$ $$2,102,900$ Liabilities Current Liabilities Accrued Liabilities $$309,500$ $$287,500$ Accounts Payable $393,300218,000$ Total Current Liabilities $$702,800$ $$505,500$ Noncurrent Liabilities Notes Payable $$535,250$ $$205,000$ Total Noncurrent Liabilities $$535,250$ $$205,000$ Total Liabilities $$1,238,050$ $$710,500$ Shareholders$$ Equity Common Stock, no par value $$341,000$ $$341,000$ Retained Earnings $1,191,0001,075,000$ Total Shareholders$$ Equity $$1,532,000$ $$1,416,000$ Less: Treasury Stock at Cost $(52,750)(23,600)$ Total Liabilities and Shareholders$$ Equity $$2,717,300$ $$2,102,900$ Marion Services, Ltd$.$ Income Statement For the Current Year Ended December $31$ Service Revenue $$706,500$ Selling, General, and Administrative Expe

nses $(281,000)$ Depreciation Expense $(82,000)$ Bad Debt Expense $(18,000)$ Operating Income $$325,500$ Interest Expense $(23,000)$ Income before Tax $$302,500$ Tax at $40\%(121,000)$ Net Income $$181,500$ Marion included the $ $22$ comma $150$ loss on disposal of investments in$$ selling, general, and administrative expenses on the income statement. times Accrued liabilities relate to$$ selling, general and administrative expenses. times All dividends declared are paid in cash. times All interest and taxes are paid in cash. times Acquisitions of land and$$ property, plant and equipment used cash only. times There was no amortization of the$$ held$-$to$-$maturity debt investments. There were no adjustments to fair value.