The statement of financial position of Manion Corporation follows (in thousands):

Instructions
Evaluate the statement of financial position. Briefly describe the proper treatment of any item that you find incorrect. Assume the company follows IFRS.

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MANION CORPORATION Statement of Financial Position December 31, 2017 Current assets $26,000 18,000 25,000 20,000 4,000 20,000 Investments-trading (fair value through net income) Accounts receivable Inventory Supplies Investment in subsidiary company Investments Investments in shares Property, plant, and equipment Buildings and land Less: Reserve for depreciation Other assets Investment in bonds to be held to maturity (at cost) $113,000 25,000 91,000 31,000 60,000 19,000 $217,000 2 Liabilities and equity Current liabilities Accounts payable Reserve for income taxes Customer accounts with credit balances Long-term liabilities Bonds payable Total liabilities Shareholders' equity Common shares issued Earned surplus and other accumulated surplus Cash dividends declared $22,000 15,000 2 $ 37,001 62,000 99,001 85,000 24,999 8,000 117,999 $217,000