Simple Company provided the following account balances on December 31, 2020: Share capital Share premium Retained earnings Serial bonds payable (P500,000 due every July 1 of each year) Employees income tax payable Notes payable Accrued expenses Accrued interest on note payable Income tax payable Allowance for doubtful accounts Advances from customers. Accounts receivable Accumulated depreciation-building Accumulated depreciation machinery Investment in bonds Land Machinery Factory supplies Notes receivable Building Cash Claim receivable Finished goods Franchise Goods in process Prepaid insurance Raw materials Trading securities Tools Goodwill Plant expansion fund Accounts payable Required: 5,000,000 500,000 880,000 2,500,000 20,000 100,000 30,000 10,000 60,000 50,000 100,000) 500,000 1,600,000 1,300,000 1,500,000 1,500,000 2,000,000 50,000 150,000 4,000,000 420,C100 20,000 400,000 200,000 600,000 20,000 200,000 250,000 40,000 100,000 500,000 300,000 Prepare a properly classified statement of financial position on December 31, 2020. Prepare Notes to Financial statements