The bookkeeper for Riverbed Corp. has prepared the following statement of financial position as at July 31, 2020:

RIVERBED CORP. Statement of Financial Position As at July 31, 2020
Cash		$71,000		Notes and accounts payable		$46,000
Accounts receivable (net)		58,000		Long-term liabilities		83,000
Inventory		61,000		Shareholders' equity		175,000
Equipment (net)		92,000
Patents (net)		22,000
		$304,000				$304,000

The following additional information is provided:

1.		Cash includes $1,300 in a petty cash fund and $17,000 in a bond sinking fund.
2.		The net accounts receivable balance is composed of the following three items: (a) accounts receivable debit balances $71,000; (b) accounts receivable credit balances $8,400; and (c) allowance for doubtful accounts $4,600.
3.		Inventory costing $6,500 was shipped out on consignment on July 31, 2020. The ending inventory balance does not include the consigned goods. Receivables of $6,500 were recognized on these consigned goods.
4.		Equipment had a cost of $133,000 and an accumulated depreciation balance of $41,000.
5.		Income Tax Payable of $10,200 was accrued on July 31. Riverbed Corp., however, had set up a cash fund to meet this obligation. This cash fund was not included in the cash balance, but was offset against the income tax payable account.
6.		Long-term liabilities are bonds payable issued at par, due in 2025.
7.		Shareholders equity is made up of two account balances: Common Shares of $116,700 and Retained Earnings of $58,300.

(a) Use the information available to prepare a corrected classified statement of financial position as at July 31, 2020. (Adjust the account balances based on the additional information.) (List Current Assets in order of liquidity.)

RIVERBED Corp. Statement of Financial Position For the Year Ended July 31, 2020For the Month Ended July 31, 2020July 31, 2020
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