Big Horse Ltd. has prepared the following comparative statements of financial position at December 31, 2019 and 2020: Big Horse adheres to ASPE Cash Accounts receivable Inventory Prepaid expenses Property, plant & equipment Accumulated depreciation Goodwill 2020 $199.000 53 000 50.000 6,000 420,000 (150,000) 51 000 $1529.000 2019 $51.000 30,000 60,000 9,000 350.000 (025.000) 58.000 $442.000 Difference SAB 000 145000 110,000) (3 000) 70,000 125.000 17 000 $ 51,000 20,000 $ 66,000 14,000 150,000 Accounts payable Accrued liabilities Mortgage payable Preferred shares Common shares Retained earnings (6,000 6.000 (150.000 215,000 O 21,000 215.000 200.000 43.000 $ 529.000 200,000 22.000 $1442.000 1. The Accumulated Depreciation account has been credited only for the depreciation expense for the year. There were no disposals of property, plant and equipment, but new equipment was purchased during 2020. 2. Depreciation expense and a charge for impairment of goodwill have both been included in operating expenses. 3. The Retained Earnings account was debited for cash dividends declared and paid of $ 46,000, and credited for the net income for the year. The condensed income statement for 2020 is as follows: Sales.... $ 660,000 Cost of sales 363.000 Gross profit. 297,000 Operating expenses. 230.000 Net income... $ 67.000 le