Prepare the current assets section of the statement of financial position for Nias Corporation, which reported the following selected items at February 28, 2012:

Transcribed Image Text:

Accounts payable Accounts receivable Allowance for doubtful accounts Bad debts expense Cash Merchandise inventory $938,000 470,000 30,000 24,000 150,000 380,000 Notes receivable-due November 1, 2012 Notes receivable-due April 1, 2015 Prepaid expenses Recoverable sales taxes Short-term investments Unearned revenue $300,000 400,000 58,000 38,000 330,000 5,000