Exercise 5-8 a The trial balance of Blue Spruce Ltd. at December 31, 2020, follows: Credits Debits $385,000 $11,075,000 163,000 6,400,000 349,000 419,000 117,000 705,000 3,160,000 19,000 370,000 2,440,000 56,000 108,000 675,000 Cash Sales revenue FV-NI investments (at fair value) Cost of goods sold Bond investment at amortized cost FV-OCI investments (fair value $475,000) Notes payable (due in six months) Accounts payable Selling expenses Investment income or loss Land Buildings Dividends payable Income tax payable Accounts receivable Accumulated depreciation-buildings Allowance for doubtful accounts Administrative expenses Interest expense Inventory Gain on disposal of land Dividends Notes payable (due in five years) Equipment Bonds payable (due in three years) Accumulated depreciation-equipment Intangible assets-franchises (net) Common shares Intangible assets-patents (net) Retained earnings Accumulated other comprehensive income Totals 182,000 38,000 1,050,000 241,000 697,000 70,000 50,000 1,050,000 750,000 2,400,000 70,000 290,000 819,000 355,000 992,000 93,000 $17,794,000 $17,794,000 * The investment income or loss relates to the FV-NI investments. . (a) Prepare a classified statement of financial position as at December 31, 2020. Ignore income taxes. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.) Blue Spruce Ltd. Statement of Financial Position Assets $ $ $ Liabilities and Shareholders' Equity $ La V