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Martinez SpA has decided to expand its operations. The bookkeeper recently completed the following statement of financ position in order to obtain additional funds for
Martinez SpA has decided to expand its operations. The bookkeeper recently completed the following statement of financ position in order to obtain additional funds for expansion. 235,000 345,000 406,000 145,000 Martinez SpA Statement of Financial Position December 31, 2022 Current assets Cash Accounts receivable (net) Inventory (at lower-of-average-cost-or-net realizable value) Trading securities-at cost (fair value 125,000) Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill Other identifiable assets Prepaid expenses Current liabilities Accounts payable Notes payable (due next year) Pension liability Rent payable Premium on bonds payable Annrennt liabilitinn 575,000 165,000 180,000 85,000 95.000 17,000 140,000 130,000 87,000 54,000 58,000 Question 3 of 5 575,000 165,000 180,000 85,000 95,000 17,000 Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill Other identifiable assets Prepaid expenses Current liabilities Accounts payable Notes payable (due next year) Pension liability Rent payable Premium on bonds payable Non-current liabilities Bonds payable Equity Share capital-ordinary, 1.00 par, authorized 400,000 shares, issued 295,000 Share premium-ordinary Retained earnings 140,000 130,000 87,000 54,000 58,000 505,000 295,000 165,000 ? Prepare a revised statement of financial position given the available information. Assume that the accumulated depreciation balance for the buildings is 165,000 and for the equipment, 110,000. The allowance for doubtful accounts has a balance of 22,000. The pension liability is considered a non-current liability. (List Current Assets in reverse order of liquidity. List Property, Plant and Equipment in order of Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the question.) MARTINEZ SPA Statement of Financial Position Assets uestion 3 of 5 -15 E Equity and Liabilities
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