Information from the statement of financial position and statement of income is given below for Concord Road Inc., a company following IFRS, for the year ended December 31. Concord Road has adopted the policy of classifying interest paid as operating activities and dividends paid as financing activities. Comparative Statement of Financial Position, at December 31 2020 2019 Cash $92,700 $47,650 Accounts receivable 91,400 37,500 Inventory 131,400 110,650 Investments in land 91,200 114,000 Property, plant, and equipment 288,000 211,000 Accumulated depreciation (49,400) (40,000 ) $645,300 $480,800 Accounts payable $53,300 $48,780 Accrued liabilities 12,200 19,230 Notes payable 140,000 78,000 Common shares 255,000 207,000 Retained earnings 184,800 127,790 $645,300 $480,800