Prepare a statement of financial position (unclassified) for 2020. List assets in order of liquidity List Property Plant and Equipment in order of Land, Buildings and Equipment) Hughes Tools Company Statement of Financial Position $ The Hughes Tools Company started business on October 1, 2019. Its fiscal year runs through to September 30 the following year. The following transactions occurred in the fiscal year that started on October 1, 2019, and ended on September 30, 2020. 1 On October 1, 2019, Jill Hughes invested $173,000 to start the business. Hughes is the only owner. She was issued 10,000 common shares 2. On October 1, Hughes Tools borrowed $226,500 from a venture capitalist (a lender who specializes in start-up companies) and signed a note payable. 3 On October 1, the company rented a building. The rental agreement was a two-year contract requiring quarterly rental payments (every three months) of $11,000, payable in advance. The first payment was made on October 1, 2019 (covering the period from October 1 to December 31). Thereafter, payments were due on December 31, March 31, June 30, and September 30 for each three-month period that followed. All the rental payments were made as specified in the agreement. On October 1, the company purchased equipment costing $239.800 for cash. 4 5. Initial inventory was purchased for $87,000 cash. Additional purchases of inventory during the year totalled $579,500, all on account. 7. Sales during the year totalled $859,500, of which $773,550 were on account. 8. Collections from customers on account totalled $650.500. 9. Payments to suppliers on account totalled $513.500 10. The cost of the inventory that was sold during the year was $554,500. 11. Selling and administrative expenses totalled $65,700 for the year. Of this amount, $4,600 was unpaid at year and 12. Interest on the note payable from the vantura capitalist was paid at year and (September 30, 2020). The interest rate on the note is 10%. In addition, $22.300 of the note principal was repaid at that time. 13. The seuipment was depreciated based on an estimated useful life of 10 years and a residual value of $21.900. 14 The company declared and paid a dividend of $6,400. 18