Question $4$ of $4$

$\frac{26\mathrm{.}66}{45}$

Moore Tools Company started business on October $1,2023.$ Its fiscal year runs through to September $30$ of the following year. The following transactions occurred in the fiscal year that started on October $1,2023,$ and ended on September $30,2024.$

On October $1,2023,$ Margaret Moore invested $$175,000$ to start the business. Moore is the only owner. She was issued $10,000$ common shares.

On October $1,$ Moore Tools borrowed $$224,500$ from a venture capitalist $($a lender who specializes in start$-$up companies$)$ and signed a note payable.

On October $1,$ the company rented a building. The rental agreement was a two$-$year contract requiring quarterly rental payments $($every three months$)$ of $$14,000,$ payable in advance. The first payment was made on October $1,2023($covering the period from October $1$ to December $31).$ Thereafter, payments were due on December $31,$ March $31,$ June $30,$ and September $30$ for each three$-$month period that followed. All of the rental payments were made as specified in the agreement.

On October $1,$ the company purchased equipment costing $$226,600$ for cash.

Initial inventory was purchased for $$95,000$ cash.

Additional purchases of inventory during the year totalled $$575,000,$ all on account.

Sales during the year totalled $$939,000,$ of which $$845,100$ were on account.

Collections from customers on account totalled $$656,500.$

Payments to suppliers on account totalled $$520,000.$

The cost of the inventory that was sold during the year was $$554,500.$

$11$ Selling and ardministrative pxnensps thtalled $$8$ for the vear $$ f this amnunt $$4700$ was unnair at vear end

Prepare a statement of financial position for $2024,($List assets in crder of liqudity.$)$

Moore Tools Company Statement of FInanclal Pesatlon