Problem 2 Summer Company provided the following account balances on Decem $ 400,000 Accounts receivable Advances to officers-not currently collectible Sinking fund Building Long-term refundable deposit Cash and cash equivalents Cash surrender value Equipment Lease rights Accrued interest on notes receivable 100,000 10,000 1,300,000 Inventories 1,500,000 500,000 250,000 Land Land held for speculation Notes receivable Computer software Prepaid expenses Trading securities Unearned rent income 70,000 40,000 (1,800,000) Retained earnings (deficit) Share premium-preference Premium on bonds payable Preference share capital 1,000,000 2,000,000 200,000 300,000 Share premium-ordinary Notes payable Withholding tax payable Accounts payable Accrued salaries payable Accumulated depreciation-building Accumulated depreciation-equipment Allowance for doubtful accounts 10,000 400,000 100,000 2,000,000 200,000 20,000 5,000,000 120,000 5,000,000 30,000 Bonds payable Dividend payable Ordinary share capital Accrued salaries payable Preference share redemption fund 350,000 Required: Prepare a properly classified statement of financial position on December 31, 2017