ont ct E * A. YA T Normal 1 No Spac. Heading 1 Heading 2 Paragraph Styles Problem 4. (30%) Lane Harley is preparing for a meeting with investors. He would like to provide appropriate information about his company's financial position. He has provided the following accounts and balances at December 31, 2015 Cash $60,000 Accounts receivable (net) 38 500 Inventory 65,300 Equipment (net) 104,000 Goodwill 25,000 Notes and Accounts Payable 57,000 Non current Liabilities 100,000 Equity 125,800 Except for the following items all adjustments have been recorded in the accounts. 1. Cash includes $20,000 in a fund designated for plant expansion in 2018. 2. The net accounts receivable is comprised of (a) accounts receivable $ 52,000 and (b) allowance for doubtful accounts $13,500. 3. Equipment had a cost of S130 000 and accumulated depreciation of $26 000 4. Notes and accounts payable is comprised of the following accounts payable $30.000 income taxes payable $3.000 Notes payable $19.000 due June 2017 5. Non-current liabilities are bonds payable paying interest at 9%, and maturing June 30, 2023 6. Equity is comprised of share capital: 50 000 ordinary shares ($1 par) sold at $2 each and retained earnings $25 800. Instructions: Prepare a corrected classified statement of financial position for Lane Harley Company at December 31, 2015 (include all stockholders equity details) ENGLISH (UNITED STATES o