5 of 5 < -/1 Monty 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 MONTY CORR Statement of Financial Position For the Year Ended December 31, 2020 Current assets Cash (net of bank overdraft of $37,000) $ 280,000 Accounts receivable (net) D 353,000 Inventory at the lower of cost and net realizable value 591,000 FV-NI investments (at cost-fair value $130,000) 280.000 Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill 670,000 220.000 205.000 91.000 Investment in bonds to collect cash flows, at amortized cost 102,000 Prepaid expenses 30,000 Current liabilities Accounts payable Notes payable (due next year) Pension obligation 285,000 305,000 90,000 59,000 Rent payable Long-term liabilities Bonds payable Shareholders' equity fal Common shares, unlimited authorized, 380,000 issued Contributed surplus Retained earnings 759,000 380,000 290.000 Common shares, unlimited authorized, 380,000 issued 380,000 Contributed surplus 290,000 Retained earnings ? (a) 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 $280,000 and that the accumulated depreciation balance for the equipment is $225,000. The allowance for doubtful accounts has a balance of $33,000. The pension obligation is considered a long-term liability. (List Current Assets in order of liquidity. List Property Plant and Equipment in order of Land, Buildings and Equipment) MONTY Corp. Statement of Financial Position December 31, 2020 Assets Current Assets