MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 4 BACK NEXT $420,000 364,000 581,000 250,000 620,000 250,000 375,000 Statement of Financial Position For the Year Ended December 31, 2020 Current assets Cash (net of bank overdraft of $50,000) Accounts receivable (net) Inventory at the lower of cost and net realizable value FV-NI investments (at cost-fair value $320,000) Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill Investment in bonds to collect cash flows, at amortized cost Prepaid expenses Current liabilities Accounts payable Notes payable (due next year) Pension obligation Rent payable Long-term liabilities Bonds payable Shareholders' equity Common shares, unlimited authorized, 360,000 issued Contributed surplus Retained earnings 91,000 100,000 26,000 355,000 235,000 84,000 63,000 617,000 360,000 290,000 ? (a) Prepare a revised statement of financial position using the available information. Assume that the bank overdraft relates to a bank account held at a different bank from the account with the cash balance. Assume that the accumulated depreciation balance for the buildings is $300,000 and that the accumulated depreciation balance for the equipment is $225,000. The allowance for doubtful accounts has a balance of $21,000. The pension obligation is considered a long-term liability. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.) FULL SCH BLUE SPRUCE Corp. Statement of Financial Position For the Year Ended December 31, 2020 Assets $ Liabilities and Shareholders' Equity $ $