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Bridgeport Corp. has decided to expand its operations. The bookkeeper recently completed the following statement of financial position in order to obtain additional funds for expansion:$$

Bridgeport Corp.$$

Statement of Financial Position$$

For the Year Ended December $31,2023$

Current assets$$

Cash $($net of bank overdraft of $$31,000)$

$$460,000$

Accounts receivable $($net$)$

$430,000$

Inventory at the lower of cost and net realizable value$$

$541,000$

FV$-$NI investments $($at cost$-$fair value $$250,000)$

$270,000$

Property, plant, and equipment$$

Buildings $($net$)$

Equipment $($net$)$

Land held for future use$$

Intangible assets$$

$690,000$

$180,000$

$225,000$

Goodwill$$

$90,000$

Investment in bonds to collect cash flows, at amortized cost$$

$91\mathrm{.}000$

Question $5$ of $5$

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Property, plant, and equipment$$

Buildings $($net$)$

Equipment $($net$)$

Land held for future use$$

$690\mathrm{.}000$

$180\mathrm{.}000$

$225\mathrm{.}000$

Intangible assets$$

Goodwill$$

$90\mathrm{.}000$

Investment in bonds to collect cash flows, at amortized cost$$

$91\mathrm{.}000$

Prepaid expenses$$

$21\mathrm{.}000$

Current liabilities$$

Accounts payable$$

$265\mathrm{.}000$

Notes payable $($due next year$)$

$325\mathrm{.}000$

Pension obligation$$

$98\mathrm{.}000$

$61\mathrm{.}000$

Rent payable$$

Long$-$term liabilities$$

$($a$)$

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Current liabilities$$

Accounts payable$$

$265,000$

Notes payable $($due next year$)$

$325,000$

Pension obligation$$

$98,000$

Rent payable$$

$61,000$

Long$-$term liabilities$$

Bonds payable$$

$743,000$

Shareholders' equity$$

Common shares, unlimited authorized, $340,000$ issued$$

$340,000$

Contributed surplus$$

$200,000$

$?$

Retained earnings$$

$$ Prepare a revised statement of financial position using the available information. Assume that the bank overdraft relates to a bank account held at a different bank from the account with the cash balance. Assume that the accumulated depreciation balance for the$$

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Question $5$ of $5$

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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 $$190,000$ and that the accumulated depreciation balance for the equipment is $$305,000.$ The allowance for expected credit losses has a balance of $$22,000.$ The pension obligation is considered a long$-$term liability. $($List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Buildings, and Equipment.$)$

BRIDGEPORT CORP. Statement of Financial Position$$

Assets