Question 1 (12 points) The bookkeeper for Kane Corporation, a private corporation, has provided you with the balances of the adjusted trial balance on June 30, 2019. The company reports under ASPE Account Dr. Cr. Cash, Note 1 6,200 Building 245,000 Accounts receivable, Note 2 121,000 Accounts payable 285,000 Allowance for doubtful accounts 6,500 Loans to shareholders 66,200 Dividend payable December 31, 2019 17,500 Note receivable Note 3 175,000 Mortgage payable Note 4 140,000 Accumulated depreciation, building 73,500 Inventory, at cost Note 5 215,000 Trademarks 50,000 Common shares 328,900 Retained earnings 27,000 Totals 878,400 878,400 Other information: Note 1 Cash balance is comprised of Other information: Note 1 Cash balance is comprised of: o Petty Cash $ 220 Assiniboine Credit Union savings account 18,500 o Bank of Montreal chequing account overdraft (12,520) Note 2 Accounts receivable includes credit balances of $15,000. Note 3 Note receivable is due on May 31, 2020 Note 4 Principal on mortgage payable of $20,000 due by June 30, 2020 Note 5 Estimated market value of inventory is $320,000 Required: Prepare a balance sheet, asset section only, using appropriate format, captions and terminology The following template is provided for your answer (12 marks)