Question 4 The following statement of financial position was prepared by the bookkeeper for Snuff Inc. at The following additional information is provided: 1. "Cash" includes prepaid insurance of $9,400; as well, a bank overdraft of $1,500 has been deducted. 2. The net accounts receivable balance includes: (a) accounts receivable-debit balances $62,000; (b) accounts receivable-credit balances $5,000; (c) allowance for doubtful accounts $4,800. 3. Inventories do not include goods costing $5,000 shipped out on consignment. Receivables of $5,000 were recorded on these goods. 4. Investments include investments in common shares, trading $24,000 and long-term $43,300, and franchises $9,000. 5. Equipment costing $8,000 with accumulated depreciation $6,000 is no longer used and is hel for sale. Accumulated depreciation on the other equipment is $40,000. Instructions Prepare a statement of financial position in good form (shareholders' equity details can be omitted.)