PRINTER VERSION BACK Exercise 54 tridgeport Corp, has decided to expand its operations. The bookkeeper recently completed the following statement of financial position in order to obtain additional funds for expansion: BRIDGEPORT CORP. Statement of Financial Position For the Year Ended December 31, 2020 Current assets Cash (net of bank overdraft of $31,000) 5460,000 Accounts receivable (net) 430,000 Inventory at the lower of cost and net realizable value 541,000 FY-NI investments (at cost-fair value $170,000) 270,000 Property, plant, and equipment Buildings (net) 590,000 Equipment (het) 180.000 and held for future use 225,000 Intangible assets Goodwill Investment in bonds to collect cash flows, at amortired cost 90.000 91,000 Prepaid expenses 21,000 Current lates Accounts payable 265,000 Notes payable (due next year) 325,000 Pension obligation 98.000 Rent payable 61.000 Long-term lates Bonds payable 743,000 Shareholders' equity Common shares, united authorized, 340,000 issued 340,000 Contributed surplus 200,000 Retained earnings (a) Prepare a revised statement of financial position using the available information, Assume that the bank overdraft relates to a bank account held at a different back from the account with the cash Islance. Assume that the accumulated depreciation balance for the buildings is $190,000 and that the accumulated depreciation balance for the equipment is $305,000. The lowance for doubt accounts has a balance of $22,000. The pension obligation is considered a long-term bility. (List Current Assets in order of liquidity List Property. Plant and Equipment in order of Land, Buildings and Equipment.) BRIDGEPORT Corp. Statement of Financial Position For the Year Ended December 31, 2020 Assets curant Asos For the Year Ended December 31, 2020 Assets Current Assets Cash FV-NI Investments 270000 Accounts Receivable Less Allowance for Doubtful Act Inventory Prepaid Expenses | Total Current Assets Long-Term Investments Land Held for Future Use Bond Sinking Fund Investr Property, Plant, and Equipment Buildings Less Accumulated Depreciation Equipment Less Accumulated Depreciation Goodwill Total Assets Liabilities and Shareholders' Equity Current Liabilities Accounts Payable Goodwill Total Assets Labilities and Shareholders' Equity Current Liabilities Accounts Payable Notes Payable Bank Overdraft Rent Payable Total Current Labilities Long-Term Liabilities Bonds Payable $ Pension Obligation Total Labilities Shareholders' Equity Common Shares Contributed Surplus Retained Earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity