5 I Labilities and Shareholders' Equity Liabilities and Shareholders' Equity Blue Spruce Corp. has decided to expand its operations. The bookkeeper recently completed the following statement of financial position in order to obtain additional funds for expansion: BLUE SPRUCE CORP. Statement of Financial Position Assets $ Land held for future use Intangible assets Goodwill Investment in bonds to collect cash flows, at amortized cost Prepaid expenses Current liabilities Accounts payable Notes payable (due next year) Pension obligation Rent payable Long-term liabilities Bonds payable Shareholders' equity Common shares, unlimited authorized, 360,000 issued Contributed surplus 375,000 91,000 100,000 26,000 355,000 235,000 84,000 63,000 617,000 360,000 290,000 Prepare a revised statement of financial position using the available information. Assume that the bank overdraft relates to a bank account held at a different bank from the account with the cash balance. Assume that the accumulated depreciation balance for the buildings is $300,000 and that the accumulated depreciation balance for the equipment is $225,000. The allowance for expected credit losses has a balance of $21,000. The pension obligation is considered a long-term liability. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Buildings, and Equipment.)