Question 1 View Policies Current Attempt in Progress Statement of financial position items for Blue Spruce Inc. follow for the current year, 2020: Goodwill $133,750 Accumulated depreciation-equipment Bank loan 190,022 Inventory Bonds payable due 2024 303,900 Rent payable Cash 385,200 Income tax payable Land 513,600 Rent payable (long-term) Notes receivable 476,899 Common shares (20,000 shares issued) Notes payable 283,550 Preferred shares (15,000 shares issued) Accounts payable 524,300 Prepaid expenses Retained earnings ? Equipment Income tax receivable 104,464 FV-NI investments Notes payable (due in five years) 1,712,000 Accumulated depreciation-buildings Buildings $312,440 256,586 48,150 105,247 513,600 214,000 160,500 94,074 1,572,900 129,470 289,114 1,754,800 (a) Prepare a classified statement of financial position in good form. The numbers of authorized shares are as follows: unlimited common and 20,000 preferred. Assume that income tax accounts, notes receivable, bank loan, and notes payable are short-term, unless stated otherwise, and that the FV-NI investments are stated at fair value. (List Current Assets in order of liquidity. List Property, plant and Equipment in order of Land, Buildings and Equipment.) Blue Spruce Inc. Statement of Financial Position For the Year Ended December 31, 2020 Assets Current Assets AT Liabilities and Shareholders' Equity