Novak Corp. has decided to expand its operations. The bookkeeper recently completed the following statement of financial posit in order to obtain additional funds for expansion: $ 410,000 476,000 601,000 290,000 720,000 170,000 285,000 NOVAK CORP Statement of Financial Position For the Year Ended December 31, 2020 Current assets Cash (net of bank overdraft of $40,000) Accounts receivable (net) Inventory at the lower of cost and net realizable value FV-Nl investments (at cost-fair value $160,000) Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill Investment in bonds to collect cash flows, 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, 350,000 issued Contributed surplus Retained earnings 92.000 91,000 29,000 275.000 315,000 90,000 50,000 708,000 350,000 380,000 ? la) Prepare a revised statement of fancial position using the available information Assume that the bank overdraft relates to a bank account held at a different bunk from the account with the cash balance. Assume that the accumulated depreciation balance for the buildings is $340.000 and that the accumulated depreciation balance for the equipment is $275.000 The allowance for doubtful accounts has a balance of $37.000. The person 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 NOVAK Corp. Statement of Financial Position For the Month Ended December 31, 2020- Assets Current Cash Accounts Receivate FV NInvestment Nilowattor Del Account Tentary PredEx Lemments tant, and it Forment Accumulated Deprecationen Accumulated Desrelation tellings Total Current Ass Liabilities and Shareholders Equity