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bookkeeper at Spring Corporation, a pubilicly traded companty which follows International Finanelal Reportung. Standards (IFRS): Spring Corporation Statement of Financial Position At December 31/2022 ASSETS Cash (net of bank overdraft of $200,000 ) (Note 1) Accounts recelvable (net of $15,000 allowance for doubtful accounts) Inventory, at the lower of cost and net realizable value LIABILITIES AND EQUITY Accounts Payable Salaries 8 Wages Payable Bank Loan Payable (Note 4) Common Shares (Note 5) Preferred Shares (Note 5) Retained Earnings Other Comprehensive Income TOTAL LIABILITIES AND EQUITY 150,00075,000460,000685,000140,00010,000310,00095,000555,0001,240,000 1. Spring Corporation deals with two separate financial institutions, one of which has the bank overdraft. 2. Capital assets are accounted for using the revaluation model. Appraisals are obtained every two years. 3. Shares are actively traded on the open market and are accounted for using the FV-NI model. The fair value of the shares at December 31,2022 was $65,000. Of the $460,000 bank loan payable at December 31,2022,$30,000 of loan principal will be repaid within the next 12 months. Spring Corporation is authorized to issue an unlimited number of common shares and 20,000 non-cumulative $2.00 preferred shares. At year-end 140,000 common shares and 5,000 preferred shares are issued and