Moore Tools Comparry started business on October $1,2023.$ Its fistal year runs through to September $30$ af the following year. The following trarmactions okturred in the fiscal year that started on October $1,2023,$ and ended on September $30,2$D$24.$

Or Octaber $1,2023,$ Margaret Moure invested $$175,000$ to start the business. Moore is the only owner She wars issued ID$,000$ commonshares

Oi October $1,$ Moore Tools borrewed $$224,500$ from a wenture capitalist $($a lender whospecializes instart$-$up comparies$)$ and signed a note payable.

OnDetober $1$ the companv rented a buildine. The rental agreement was a two$-$vear contract requiring quarterly rentall paymerts fevery three manths$)$ of $$14,0xD,$ payable in advance. The first payment was made on October $1,2023($covoring the period from Ottaber $1$ ta December $31).$ Thereatter, payments were due on December $31,$ March $31.$ June $30,$ and September $30$ for each three$-$ntonth period that followed; All of the rental payments were made as specified in the agreement.

Or October $1$ the company purchased equipment costing $$226,600$ for cash

Initial imentory was purchased for $595000$ cash.

Additional purchases of inventory during the year totalled $$575,000,$ all on account.

Sales during the vear totalled $5939,000,$ of which $5845,100$ were on account.

Collections from customers on account totalled $$656,500.$

Payments to suppliers on account totalled $$520000.$

The cost of the irmentory that was sold during the year was $$554,500.$

Prepare a statement of finamcial position for $2024.($List assets in order of Ilquldity$))$

Maore Tools Company Statement of Fiasancisl Position

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