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Crystal Corporations accountant prepared the following statement of financial position on June 30, 2020, the companys year end: Crystal Corporation Statement of Financial Position June

Crystal Corporations accountant prepared the following statement of financial position on June 30, 2020, the companys year end:

Crystal Corporation

Statement of Financial Position

June 30, 2020

Cash $ 85,000.00 Accounts Payable $ 95,000.00
Accounts Receivable (net) $ 162,200.00 Bonds Payable $ 190,000.00
Inventory $ 72,000.00 Shareholders' Equity $ 248,500.00
Investments $ 76,300.00
Computer Equipment (net) $ 96,000.00
Copyright $ 42,000.00
Total $ 533,500.00 Total $ 533,500.00

The following additional information is available:

A. The Cash balance includes a bank overdraft of $2,500 (the only account at this bank), and a Bond Sinking Fund of $9,400.

B. The net accounts receivable balance includes:

-an allowance for doubtful accounts of $3,800

-accounts receivable with credit balances of $4,000

-accounts receivable with debit balances $170,000

C. Inventory does not include goods with a cost of $3,000 shipped out on consignment. Receivables of $3,000 were recorded on these goods.

D. Investments include FV/NI investment in common stock, $19,000, FV/OCI investment in common stock $48,300 and a Patent $9,000.

E. Computer equipment costing $10,000 with accumulated depreciation of $9,000 is no longer being used and is held for sale. The balance of accumulated depreciation on the other computer equipment is $40,000.

F. Some other account balances at June 30 2020:

-Contributed surplus. $1,500

-Other comprehensive income.. $10,000

-Accumulated Other Comprehensive Income. $57,000

-Common Shares.. $160,000

-Amortization Expense. $4,500

-Gain on sale of Equipment $1,000

- Retained Earnings.. ?

Required: Prepare a statement of financial position in good form assuming Crystal Corporation follows IFRS.

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