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

Instructions
Prepare a revised statement of financial position given the available information. Assume that the accumulated depreciation balance for the buildings is ‚¬160,000 and for the equipment, ‚¬105,000. The allowance for doubtful accounts has a balance of ‚¬17,000. The pension liability is considered a non-current liability.

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Bruno SpA Statement of Financials Positions Decembers 31, 2019 Current assets cash €260,000 Accounts receivable (net) 340,000 Inventory (at lower-of-average-cost-or-net realizable value) 401,000 Trading securities-at cost (fair value €120,000) 140,000 Property, plant, and equipment 570,000 Buildings (net) Equipment (net) 160,000 Land held for future use 175,000 Intangible assets Goodwill 80,000 Other identifiable assets 90,000 Prepaid expenses 12,000 Current liabilities Accounts payable 135,000 Notes payable (due next year) 125,000 Pension liability 82,000 Rent payable 49,000 Premium on bonds payable 53,000 Non-current liabilities Bonds payable 500,000 Equity Share capital-ordinary, €1.00 par, authorized 400,000 shares, issued 290,000 290,000 Share premium-ordinary 180,000 Retained earnings