Selected accounts of Flint Limited at December 31, 2023, follow Finished Goods Inventory $167,000 Cost of Goods Sold $2,700,000 Unearned Revenue 102,000 Notes Receivable 59,000 Bank Overdraft 9.100 Accounts Receivable 171,000 Equipment 343,000 Raw Materials Inventory 197,000 Work-in-Process Inventory 41,000 Supplies Expense 72,000 Cash 61.000 Allowance for Expected Credit Losses 29,000 FV-NI Investments 47,000 Intangible Assets-Trade Names 33,000 Interest Payable 43,000 Contributed Surplus 18,000 Restricted Cash (for Plant Expansion) 61,000 Common Shares 339,000 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 $68,600. 23 3. The FV-NI investments have a fair value of $35,000. 4. 5. The notes receivable are due April 30, 2024, with interest receivable every April 30. The notes bear interest at 6% (Hint: Accrue interest due on December 31, 2023) The allowance for expected credit losses applies to the accounts receivable. Accounts receivable of $61,000 are pledged as collateral on a bank loan. 6. Intangible Assets-Trade Names are reported net of accumulated amortization of $34,000 7. The bank overdraft is at the same bank as the amount reported above under Cash and therefore Flint has (correctly) chosen to net the bank overdraft and cash amounts for financial statement purposes. Current Assets Total Current Assets: Flint Limited Statement of Financial Position (Partial)