Marigold 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: $ 310,000 433,000 481,000 310,000 720,000 240,000 275,000 MARIGOLD CORP. Statement of Financial Position For the Year Ended December 31, 2017 Current assets Cash (net of bank overdraft of $39,000) Accounts receivable (net) Inventory at the lower of cost and net realizable value FV-NI investments (at cost-fair value $170,000) Property, plant, and equipment Building (net) Equipment (net) Land held for future use Intangible assets Goodwill Investment in bonds to be held until maturity, at amortized cost Prepaid expenses Current liabilities Accounts payable Notes payable (due next year) Pension obligation Rent payable Long-term liabilities Bonds payable Shareholders' equity Common shares, unlimited authorized, 320,000 issued 83,000 98,000 32,000 345,000 255,000 93,000 50,000 720,000 320,000 Contributed surplus Retained earnings 270,000 ? (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 $230,000 and that the accumulated depreciation balance for the equipment is $145,000. The allowance for doubtful accounts has a balance of $29,000. 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, Buildings and Equipment.) MARIGOLD Corp. Statement of Financial Position December 31, 2017 Assets Current Assets Cash FV-NI Investments X Accounts Receivable Less Allowance for Doubtful Accounts Inventory Prepaid Expenses OD Total Current Assets Long-Term Investments Bond Sinking Fund Investment Land Held for Future Use Property, Plant, and Equipment Buildings Less Accumulated Depreciation - Buildings Equipment Less Accumulated Depreciation - Equipment Goodwill Total Assets Liabilities and Shareholders' Equity Current Liabilities Accounts Payable Bank Overdraft Notes Payable DDDDD Rent Payable Total Current Liabilities Long-Term Liabilities Bonds Payable ci Pension Obligation Total Liabilities Shareholders' Equity Common Shares Contributed Surplus TII Retained Earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity $