Question 1 (24 marks) The following Statement of Financial Position contains errors in format, terminology, classification, and numbers. It has been prepared by the bookkeeper for Hathaway Corporation. Hathaway follows IFRS. Hathaway Inc. Financial Position For the Period Ended December 31, 2023 Cash............ $ 90,000 Accounts receivable (net) 52,200 Inventory... 57,000 Investments. 76,300 Equipment (net)... 86,000 Patents 32,000 $393,500 Accounts payable....... $ 75,000 Bank Loans 110,000 Reserve for contingencies.............. 40,000 Shareholders' equity Common shares....................... 50,000 Retained earnings................ 118,500 $393,500