The following is the statement of financial position of Rasheed Brothers Corporation (amounts in thousands).

Instructions
Evaluate the statement of financial position presented. State briefly the proper treatment of any item criticized.

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Rasheed Brothers Corporation Statement of Financial Position December 31, 2019 Assets Current assets $26,000 Cash Short-term investments 18,000 Accounts receivable 25,000 Inventory 20,000 Supplies 4,000 Investment in associated company 20,000 $113,000 Investments Treasury shares 25,000 Property, plant, and equipment Buildings and land 91,000 Less: Accumulated depreciation 31,000 60,000 Other assets Cash restricted for plant expansion 19,000 Total assets $217,000 Liabilities and Equity Curent liabilities Accounts payable $22,000 Income taxes payable 15,000 $ 37,000 Deferred credits Unrealized gains on non-trading equity investments 2,000 Non-current liabilities Bonds payable 60,000 Total liabilities 99,000 Equity Share capital-ordinary, par $5 Retained earnings 85,000 25,000 8,000 118,000 Cash dividends dedared Total liabilities and equity $217,000