PS3/(LO1,2) (Statement of Financial Position Adjustment and Preparation) The adastel tr balance of Asian-Pacific Ltd. and other related information for the year 2019 are presented below ( in thousands). Asian-Pacific Ltd Adjusted Trial Balance December 31, 2019 Credit Debit y 41,000 163,500 Cash Accounts Receivable Allowance for Doubtful Accounts Prepaid Insurance Inventory Long-term Investments Land Construction in Process 8,700 5,900 208,500 339,000 85,000 124,000 36,000 400,000 Patents Equipment Accumulated Depreciation-Equipment Accounts Payable Accrued Expenses Notes Payable Bonds Payable Share Capital-Ordinary Share Premium-Ordinary Retained Earnings 240,000 148,000 49,200 94,000 180,000 500,000 45,000 138,000 V1,402,900 V1,402,900 Additional information: 1. The average-cost method of inventory value is used 2. The cost and fair value of the long-term investments that consist of ordinary shares and bonds is the Same. 3. The amount of the Construction in Process account represents the costs expended to date on a building in the process of construction. (The company rents factory space at the present time.) The land on which the building is being constructed cost V85,000, as shown in the trial balance. 4. The patents were purchased by the company at a cost of Y40,000 and are being amortized on straight-line basis. 5. The notes payable represent bank loans that are secured by long-term investments carried V120,000. These bank loans are due in 2020 6. The bonds payable bear interest at 8% payable every December 31, and are due January 1, 2030 7. 600,000 ordinary shares with a par value of V1 were authorized, of which 500,000 shares w issued and outstanding Instructions Prepare a statement of financial position as of December 31, 2019, so that all important informalion a fully disclosed PS3/(LO1,2) (Statement of Financial Position Adjustment and Preparation) The adastel tr balance of Asian-Pacific Ltd. and other related information for the year 2019 are presented below ( in thousands). Asian-Pacific Ltd Adjusted Trial Balance December 31, 2019 Credit Debit y 41,000 163,500 Cash Accounts Receivable Allowance for Doubtful Accounts Prepaid Insurance Inventory Long-term Investments Land Construction in Process 8,700 5,900 208,500 339,000 85,000 124,000 36,000 400,000 Patents Equipment Accumulated Depreciation-Equipment Accounts Payable Accrued Expenses Notes Payable Bonds Payable Share Capital-Ordinary Share Premium-Ordinary Retained Earnings 240,000 148,000 49,200 94,000 180,000 500,000 45,000 138,000 V1,402,900 V1,402,900 Additional information: 1. The average-cost method of inventory value is used 2. The cost and fair value of the long-term investments that consist of ordinary shares and bonds is the Same. 3. The amount of the Construction in Process account represents the costs expended to date on a building in the process of construction. (The company rents factory space at the present time.) The land on which the building is being constructed cost V85,000, as shown in the trial balance. 4. The patents were purchased by the company at a cost of Y40,000 and are being amortized on straight-line basis. 5. The notes payable represent bank loans that are secured by long-term investments carried V120,000. These bank loans are due in 2020 6. The bonds payable bear interest at 8% payable every December 31, and are due January 1, 2030 7. 600,000 ordinary shares with a par value of V1 were authorized, of which 500,000 shares w issued and outstanding Instructions Prepare a statement of financial position as of December 31, 2019, so that all important informalion a fully disclosed