Maritimes Inc. is in the business of selling and leasing boats to residents that would like to go on a vacation in the St-Laurent River. Consumers in this market are typically young professionals who seek boats with the latest technologies. In order to please the market demand, Maritimes decided to issue bonds in order to renew its fleet of boats. On July 1st, 2009, Maritimes Inc. issued 8% $25,000,000 bonds. These bonds mature on June 30th, 2014 with interest payments due semi-annually on June 30th and December 31st. The market rate at the time of issuance was 10%. Given this market condition, Maritimes cash proceeds from the issuance of the bonds amounted to $23,069,200.

Question: Prepare the Statement of Financial Position (balance sheet) presentation of the bonds at December 31, 2010, assuming Maritimes Inc. uses the straight-line method to amortize and bond discount or premium.