Selected accounts follow of Pina Colada Limited at December 31, 2020: Finished Goods Inventory Unearned Revenue $163,000 92,000 Cost of Goods Sold Notes Receivable $2,500,000 52,000 Bank Overdraft 8,700 Accounts Receivable 331,000 Equipment 403,000 Raw Materials Inventory 307,000 Work-in-Process Inventory 43,000 Supplies Expense 79,000 Cash 53,000 Allowance for Doubtful Accounts 22,000 FV-NI Investments 42,000 Intangible Assets-Trade Names 31,000 Interest Payable 49,000 Contributed Surplus 15,000 Restricted Cash (for Plant Expansion) 53,000 Common Shares 286,000 The following additional information is available: 1. Inventory is valued at the lower of cost and net realizable value using FIFO. 2. Equipment is recorded at cost. Accumulated depreciation, calculated on a straight-line basis, is $59,600. 3. The FV-NI investments have a fair value of $38,000. 4. 5. 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 $53,000 are pledged as collateral on a bank loan. 6. Intangible Assets-Trade Names are reported net of accumulated amortization of $21,000. 7. The bank overdraft is at the same bank as the amount reported above under Cash.