Concord Corp. has decided to expand its operations. The bookkeeper recently completed the following statement of financial position in order to obtain additional funds for expansion:

CONCORD CORP. Statement of Financial Position For the Year Ended December 31, 2020
Current assets
	Cash (net of bank overdraft of $31,000)		$	460,000
	Accounts receivable (net)			442,000
	Inventory at the lower of cost and net realizable value			581,000
	FV-NI investments (at costfair value $300,000)			290,000
Property, plant, and equipment
	Buildings (net)			670,000
	Equipment (net)			240,000
	Land held for future use			245,000
Intangible assets
	Goodwill			84,000
	Investment in bonds to collect cash flows, at amortized cost			107,000
	Prepaid expenses			27,000
Current liabilities
	Accounts payable			305,000
	Notes payable (due next year)			225,000
	Pension obligation			101,000
	Rent payable			56,000
Long-term liabilities
	Bonds payable			626,000
Shareholders equity
	Common shares, unlimited authorized, 310,000 issued			310,000
	Contributed surplus			350,000
	Retained earnings			?

(a) Prepare a revised statement of financial position using the available information. Assume that the bank overdraft relates to a bank account held at a different bank from the account with the cash balance. Assume that the accumulated depreciation balance for the buildings is $330,000 and that the accumulated depreciation balance for the equipment is $205,000. The allowance for doubtful accounts has a balance of $23,000. The pension obligation is considered a long-term liability. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land,