Question 1 The following comparative statement of financial position for Dubai Co. is given for the financial periods 2019 and 2020: 2020 PPE $430,000 2019 $395,000 Accumulated depreciation of PPE (170,000) (155,000) Copyrights 45,000 58,000 Receivables 22,000 12,000 Inventory 65,000 72,000 Prepaid expenses 70,000 52,000 Cash 172.000 71.000 $634.000 $505.000 Capital-preferred shares $42,000 23,000 Premium on preferred shares 150,000 160,000 Common stock 96,000 56,000 Retained earnings 45,000 34,000 Bond payable 57,000 Accounts payable 65,000 45,000 Accrued liabilities 179.000 187.000 $634,000 $505.000