Selected accounts follow of Culver Limited at December 31, 2020: Finished Goods Inventory Unearned Revenue Bank Overdraft Equipment Work-in-Process Inventory Cash FV-NI Investments Interest Payable Restricted Cash (for Plant Expansion) $165,000 94,000 9,500 303,000 54,000 59,000 51,000 39,000 59,000 Cost of Goods Sold Notes Receivable Accounts Receivable Raw Materials Inventory Supplies Expense Allowance for Doubtful Accounts Intangible Assets-Trade Names Contributed Surplus Common Shares $4,000,000 55,000 241,000 377,000 67,000 23,000 35,000 15,000 305,000 The following additional information is available: 1. 2. 3. 4. Inventory is valued at the lower of cost and net realizable value using FIFO. Equipment is recorded at cost. Accumulated depreciation, calculated on a straight-line basis, is $54,600. The FV-Nl investments have a fair value of $39.000. The notes receivable are due April 30, 2021, with interest receivable every April 30. The notes bear interest at 6%. (Hint: Accrue interest due on December 31, 2020.) The allowance for doubtful accounts applies to the accounts receivable. Accounts receivable of $59,000 are pledged as collateral on a bank loan. Intangible Assets-Trade Names are reported net of accumulated amortization of $31.000. The bank overdraft is at the same bank as the amount reported above under Cash. 5. 6. 7. (a) Prepare the current assets section of Culver Limited's statement of financial position as at December 31, 2020. (List Current Assets in order of liquidity.) Culver Limited Statement of Financial Position Current Assets $ $ Total Current Assets U