Sheffield Corp. has decided to expand its operations. The bookkeeper recently completed the following statement of financial position in order to obtain additional funds for expansion: SHEFFIELD CORP. Statement of Financial Position For the Year Ended December 31, 2020 Current assets Cash (net of bank overdraft of $48,000) $ 280,000 Accounts receivable (net) 517,000 Inventory at the lower of cost and net realizable value 571,000 FV-NI investments (at cost-fair value $140,000) 300,000 Property, plant, and equipment Buildings (net) 590,000 Equipment (net) 270,000 Land held for future use 195,000 82,000 Intangible assets Goodwill Goodwill Investment in bonds to collect cash flows, at amortized cost Prepaid expenses Accounts payable Notes payable (due next year) Pension obligation Rent payable Long-term liabilities Bonds payable Shareholders' equity Common shares, unlimited authorized, 340,000 issued Contributed surplus Retained earnings Current liabilities 82,000 102,000 17,000 375,000 235,000 101,000 62,000 616,000 340,000 220,000 ? (a) Prepare a revised statement of financial position using the available information. Assume that the bank overdraft relates to a bank account held at a different bank from the account with the cash balance. Assume that the accumulated depreciation balance for the buildings is $170,000 and that the accumulated depreciation balance for the equipment is $245,000. The allowance for doubtful accounts has a balance of $30,000. The pension obligation is considered a long-term liability. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.) SHEFFIELD Corp. Statement of Financial Position Assets $ $ $ Liabilities and Shareholders' Equity $ $ $ $