Accounts Receivable Note $10320000$Biological Assets Note $6300000$Borrowings $($Long$-$Term Debt$)$ Note $177500000$Borrowings $($Short$-$Term Debt$)$ Note $21350000$Buildings $2500000$Cash and Cash Equivalents $320000$Debt Securities Note $8100000$Equity Investments Note $7120000$Financial Assets $($Current$)$ Note $1190000$Furniture and Fixtures Note $1100000$Inventories Note $9620000$Investment Property Note $2800000$ANNEXURE J: SUMMATIVE ASSESSMENT $2100$ HFAC$131-1-$Jan$-$Jun$2024-$SA$2-$LVN$-$V$3-20240110$Issued Capital $($Share Capital$)$ Note $135000000$Land $6000000$Less Accumulated Depreciation Note $110000$Licenses Note $570000$Machinery and Equipment $600000$Other Comprehensive Income Note $1640000$Other Current Assets Note $1260000$Other Current Liabilities Note $2340000$Other Non$-$Current Liabilities Note $1950000$Patents Note $3250000$Prepayments Note $1050000$Provisions $($Long$-$Term$)$ Note $18100000$Provisions $($Short$-$Term$)$ Note $2260000$Retained Earnings Note $141200000$Revaluation Surplus Note $15400000$Trade and Other Payables Note $20420000$Trademarks Note $4120000$Vehicles $350000$Totals $1397000013970000$Notes:$1.$ Furniture and Fixtures: Acquired this financial year, the furniture and fixtures areto be depreciated over a span of $10$ years using the straight$-$line method$\mathrm{.}2.$ Investment Property: This property is not being used for Sunnyvale's operationalactivities but has been purchased with an intention to benefit from its capitalappreciation or future rental income$\mathrm{.}3.$ Patents: Acquired during the financial year, these patents are expected to providebenefits for the next $15$ years. They are to be amortized using the straight$-$linemethod$\mathrm{.}4.$ Trademarks: Trademarks for Sunnyvale have a remaining useful life of $10$ yearsand are a representation of the brand's value and recognition in the market$\mathrm{.}5.$ Licenses: Licenses include rights to operate certain machinery in the wine$-$makingprocess and have a remaining life of $5$ years$\mathrm{.}6.$ Biological Assets: Represents grape$-$bearing vines and trees that are imperativefor wine production. These assets will bear fruit for the next $20$ years beforereplanting might be necessary$\mathrm{.}7.$ Equity Investments $($Non$-$Current$)$: These represent long$-$term stakes in otherwine and spirit producing companies, with an intention to hold for more than a year$\mathrm{.}8.$ Debt Securities $($Non$-$Current$)$: Bonds purchased from other corporations with amaturity date of over one year from the balance sheet date$\mathrm{.}9.$ Inventories: This includes bottled wines, brandies, and spirits, as well as rawmaterials such as grapes awaiting processing$\mathrm{.}10.$Accounts Receivable & Prepayments: Amounts represent monies owed toSunnyvale by customers who purchased on credit. Prepayments include advancepayments for grape harvests and barrel aging services$\mathrm{.}11.$Financial Assets $($Current$)$: These represent short$-$term investments in moneymarket instruments, expected to be realized in cash within the next year$\mathrm{.}12.$Other Current Assets: Includes advances to employees, input tax credits, andother sundry debtors$\mathrm{.}13.$Issued Capital $($Share Capital$)$: Represents the initial capital invested byshareholders during the company's inception and any subsequent additions$\mathrm{.}14.$Retained Earnings: Cumulative net earnings of Sunnyvale which have beenretained in the business rather than distributed as dividends$\mathrm{.}15.$Revaluation Surplus: Arising from the revaluation of land and buildings whichwere found to have market values higher than their book values$\mathrm{.}16.$Other Comprehensive Income: Represents unrealized gains and losses, such aschanges in the fair value of investments held$\mathrm{.}17.$Borrowings $($Long$-$Term Debt$)$: Loans taken from financial institutions for thepurchase of machinery, equipment, and property, with a maturity of over one year$\mathrm{.}18.$Provisions $($Long$-$Term$)$: Represent liabilities of uncertain timing or amount, likeemployee benefit obligations$\mathrm{.}19.$Other Non$-$Current Liabilities: These include deferred tax liabilities and otherlong$-$term obligations$\mathrm{.}20.$Trade and Other Payables: Amounts owed to suppliers for wine$-$making materialsand other services$\mathrm{.}21.$Borrowings $($Short$-$Term Debt$)$: Loans that are due for payment within the nextfinancial year$\mathrm{.}22.$Provisions $($Short$-$Term$)$: Amounts set aside for near$-$term obligations, such aspending lawsuits or tax disputes$\mathrm{.}23.$Other Current Liabilities: Represents current maturities of long$-$term debt,interest payable, and other short$-$term financial obligations.REQUIRED:Prepare the Statement of Financial Position for Sunnyvale Vineyards Ltd$.$ as of $30$June $2024.$ Classification of accounts $(20$ marks$)$ Balancing of Total Assets $=$ Total Equity and Liabilities $(5$ marks$)$ Layout and presentation $(5$ marks$)$