Exercises 251 5-8 (Preparation of Statement of Financial Position) The trial balance of Zhang Ltd. at December 31, 2017, follows: Debits Credits Cash $ 205,000 Sales revenue $ 8,010,000 FV-NI investments (at fair value) 153,000 Cost of goods sold 4,800,000 Bond investment at amortized cost 299,000 FV-OCI investments (fair value $345,000) 277,000 Notes payable (due in six months) 98,000 Accounts payable 545,000 Selling expenses 1,860,000 Investment income or loss 13,000 Land 260,000 Buildings 1,040,000 Commission payable 136,000 Accrued liabilities 96,000 Accounts receivable 515,000 Accumulated depreciation-buildings 152,000 Allowance for doubtful accounts 25,000 Administrative expenses 900,000 Interest expense 211,000 Inventory 687,000 Gain on sale of land 60,000 Correction of prior year error 40,000 Notes payable (due in five years) 900,000 Equipment 600,000 Bonds payable (due in three years) 1,000,000 Accumulated depreciation equipment 60,000 Intangible assets-franchises (net) 160,000 Common shares 809,000 Intangible assets-patents (net) 195,000 Retained earnings 218,000 Accumulated other comprehensive income 80,000 Totals $12,202,000 $12,202,000 * The investment income or loss relates to the FV.Nl investments. Instructions (a) Prepare a classified statement of financial position as at December 31, 2017. Ignore income taxes. (6) Is there any situation where it would make more sense to have a statement of financial position that is not classified