Cash $48,000 Accounts receivable 51,000 Allowance for doubtful accounts $2,500 Merchandise inventory 22,700 Investment in associate 85,000 Investment at FVTOCI-equity 30,000 Land 90,000 Building 200,000 Accumulated depreciation-building 40,000 Equipment 40,000 Accumulated depreciation-equipment 15,000 Accounts payable 18,775 Income tax payable 4,500 Bonds payable (6%, due January 1, 2026) 126,025 Common shares, unlimited number of no par value shares authorized, 100,000 issued 100,000 Retained earnings 110,775 Accumulated other comprehensive income 5,000 Sales 750,000 Cost of goods sold 370,000 Operating expenses 180,000 Interest revenue Interest expense Income tax expense 375 6,250 50,000