Refer to the data of Problem 19. Prepare a T-account work sheet and a statement of changes in financial position for 1980 with funds defined as working capital. Noncurrent assets were sold during the year at book value. Expenditures on new noncurrent assets amounted to \(\$ 318,000\) during 1980 .

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Alberta Company Postclosing Trial Balance Comparative Data (Problems 19 and 20) Debits: Current Assets Noncurrent Assets Total Debits Credits: Current Liabilities Accumulated Depreciation Long-Term Debt Capital Stock. Retained Earnings Total Credits 12/31/78 12/31/79 12/31/80 $ 290,000 $322,000 $ 342,000 1,616,000 $1,906,000 1,679,000 1,875,000 $2,001,000 $2,217,000 $ 81,000 $ 80,000 $ 83,000 697,000 720.000 745,000 106,000 90,000 135,000 377,000 423,000 514,000 645,000 688,000 740,000 $1,906,000 $2,001,000 $2,217,000