Page $3$

SECTION B

ANSWER ONE QUESTION FROM SECTION B$.$ EACH QUESTION IS WORTH $20$ MARKS

QUESTION $3$

$[20$ Marks$]$

The following information is taken from Argentina Corporation's financial statements:

Cash

Accounts receivable

Allowance for doubtful accounts

Inventory

Prepaid expenses

Land

Buildings

Accumulated depreciation

Patents

Accounts payable

Accrued liabilities

Bonds payable

Share capital$-$ordinary

Retained earnings$-$appropriated

Retained earnings$-$unappropriated

Treasury shares, at cost

December $31$

$\backslash$table$[[2022,2021],[$$$90,000,\frac{?}{\text{b}\text{a}\text{r}}($$$27,000)$