pls answer the requirements a and b thank you. this is intermediate accounting volume 3

PROBLEM 3: EXERCISE 1. The trial balance of Evening Co. as of December 31, 20x1 is shown below: Credits Cash on hand Cash in bank Accounts receivable Debits 120,000 980,000 2,000,000 300,000 Allowance for doubtful accounts Advances to employees Advances to officers (due in 20x3) Advances to affiliates (no agreed due date) Inventories Dairy cattle (used to produce milk) Advances to suppliers Fair value of plan assets Land (held for long term capital appreciation) 40,000 130,000 670,000 200,000 1,200,000 30,000 1,000,000 900,000 1,200,000 4,800,000 Land (office building site) Building 1,600,000 42 440,000 80,000 250,000 Accumulated depreciation - Bldg. Patent Accumulated amortization - Patent Web site costs Accumulated amortization - Web site Accounts payable Utility payables Loans payable (short-term bank loan) 50,000 720,000 80,000 2,500,000 740,000 430,000 Discount on loan payable Provision for probable loss on lawsuit Deposit liability for returnable containers (short-term) Present value of defined benefit obligation Ordinary share capital Share premium Share premium - Share warrants outstanding Share premium - Treasury shares Retained earnings Reserves for contingencies Translation gain on foreign operation Treasury shares Totals 120,000 2,700,000 4,000,000 600,000 300,000 70,000 1,030,000 190,000 30,000 100,000 14,800,000 14,800,000 Requirements: a. Prepare the statement of financial position of Evening Ca Make a proper heading for the financial statement. Observe compliance with the general feature of "materiality and b. Prepare notes showing the breakdown of line items in the financial statement. Make proper cross-referencing of those aggregation." notes; use "Note 6" as your first cross-reference. ann