PART 4 Based on the following information create the following statement

Account Name		Balance (2018)
Income tax Expense	$	600,000
Decrease in porperty valulation		35,000
Current Assets		6,500,000
Cost of Sales		7,500,000
Distribuiton Costs		900,000
Common Shares Issued		895,000
Finance Costs		90,000
Stock Option Compenstation		40,000
Profit before Taxes		1,750,000
Retained Earnings(endof year)		5,000,000
Dividends Paid		150,000
Other Income		40,000
Gross Profit		3,500,000
Share Captial (end of year)		3,395,000
Contributed surplus (beginnning of year)		60,000
Non-Current Liablilities		5,000,000
Change in Currency Translation(income)		40,000
Retained Earnings(beginning of year)		4,000,000
Administrative Expenses		800,000
Total Liabilities		8,000,000
Total Assets		16,500,000

Reed Geophysical Inc.
Statement of Financial Position
As at December 31, 2018
(in $)
Assets
Non-current assets
Property, plant, and equipment
Decrease in property revaluation
Intellectual property
Total non-current assets
Current assets
Inventories
Trade Receivables
Prepaid expenses
Cash and cash equivalents
Total current assets
Total assets
Equity and liabilities
Equity
Contributed equity
Share capital
Retained earnings
Total equity
Non-current liabilities
Current liabilities
Trade and other payables
Short-term borrowings
Current position of long-term borrowings
Total current liabilities
Total liabilities
Total equity and liabilities		-