Question 2 The statement of financial position of Shamrock Limited follows for the current year, 2020: SHAMROCK LIMITED Statement of Financial Position December 31, 2020 Current assets $119,700 Current liabilities Investments 77,400 Long-term liabilities Property, plant, and equipment 190,800 Shareholders' equity Intangible assets 28,800 Other assets 34,200 $450,900 $87,300 153,000 210,600 $450,900 The following additional information is available: 1. Current Assets include the following: bank account with an overdraft balance of $13,500; inventory with a FIFO cost of $78,300 and a net realizable value of $76,500; accounts receivable of $59,400 less allowance for doubtful accounts of $2,700. 2. Investments include the following: a mortgage receivable from parent company $54,000, due in 2025; FV-NI investments held for trading with a cost of $9,000 and a fair value of $10,800; FV-OCI investments with a cost of $13,500 and a fair value of $12,600. 3. Property, Plant and Equipment include the following: land $21,600; buildings $391,500 less accumulated depreciation of $261,000; vehicles $71,100 less accumulated depreciation of $44,100; land held for future use $11,700. 4. Intangible assets include the following: patents net of accumulated amortization of $28,800. 5. Other assets include the following: customer deposits of $6,300, unearned revenue of $2,700, goodwill $39,600 and accumulated other comprehensive income (loss) of $(3,600). 6. Current Liabilities include the following: pension obligation of $48,600, interest payable of $3,600; salaries and wages payable of $7,200; accounts payable $27,900. 7. Long-term Liabilities include the following:demand bank loan of $67,500; mortgage payable $85,500 of which $6,300 is due in the next year. 8. Shareholders' Equity has 900 preferred shares (27,000 authorized) which were issued at an average price of $75 per share, and an unlimited number of authorized common shares with 49,500 shares issued at an average price of $1 per share, retained earnings of $93,600. Prepare a statement of financial position in good form. (List Current Assets in order of liquidity. List Property, plant and Equipment in order of Land, Buildings and Vehicles.) Shamrock Limited Statement of Financial Position Libilities and Shareholders' Equity