Parker Inc. has the following cash balances: 

First Bank: $ 290,000 

Second Bank: (30,000) 

Third Bank: 39,000 

Fourth Bank: (15,000) 

Required:

1. Prepare the current assets and current liabilities section of Parker’s 2021 balance sheet, assuming Parker reports under U.S. GAAP. (If there is no effect select "None" from the dropdown.)

2. Prepare the current assets and current liabilities section of Parker’s 2021 balance sheet, assuming Parker reports under IFRS. (If there is no effect select "None" from the dropdown.)