b) Prepare a statement of financial position at November 30. (List assets in order of liquidity.)

The following list of accounts, in alphabetical order, is for Sheridan Inc. at November 30, 2021: Accounts payable $24,104 Accounts receivable 17,940 Bank loan payable 31,280 Buildings 92,000 Cash 18,400 Common shares 18,400 Equipment 27,600 Income tax payable 5,520 Inventory 16,560 Land 40,480 Mortgage payable 89,700 Retained earnings 44,620 Supplies 644 (a) Your answer has been saved. See score details after the due date. For each of the accounts, identify whether it is an asset, liability, or shareholders' equity item. Accounts payable Liability Accounts receivable Asset Bank loan payable Liability Buildings Asset Cash Asset Common shares Shareholders' Equity Equipment Asset Income tax payable Liability Inventory Asset Accounts receivable Asset > Bank loan payable Liability > Buildings Asset Cash Asset Common shares Shareholders' Equity v Equipment Asset Income tax payable Liability Inventory Asset Land Asset Mortgage payable Liability Retained earnings Shareholders' Equity Supplies Asset (b) Prepare a statement of financial position at November 30. (List Assets in order of liquidity) SHERIDAN INC. Statement of Financial Position Assets $ I $ $ Liabilities and Shareholders' Equity $ 1 $