The summarised balance sheet of Magic Cadre Ltd at 30 June 2019 for presentation to management is:

 

MAGIC CADRE LTD Balance Sheet as at 30 June 2019
CURRENT ASSETS Cash at bank Accounts receivable (net) Inventory Assets held for sale	$158 000 50 000 85 000      15 000	$308 000	CURRENT LIABILITIES Accounts payable Dividends payable Current tax liability NON-CURRENT LIABILITY Mortgage payable EQUITY Share capital General reserve Retained earnings	$  45 000 6 000  5 000 600 000 68 000 53 000	$56 000 10 000 721 000
NON-CURRENT ASSETS Property, Plant and Equipment Accumulated depreciation Goodwill Accumulated impairment	465 000 (30 000) 55 000 (11 000)	479 000
		$787 000			$787 000

 

Required

Prepare the statement of financial position for external reporting purposes of Magic Cadre Ltd at 30 June 2019 in accordance with the format illustrated in figure 23.4.