SheffieldCorp.'s statement of financial position at the end of 2019 included the following items:

Current assets		$1,145,000			Current liabilities		$1,115,000
Land		30,900			Bonds payable		1,231,000
Buildings		1,320,000			Common shares		181,000
Equipment		331,000			Retained earnings		186,000
Accumulated depreciationbuildings		(144,000	)
Accumulated depreciationequipment		(11,800	)
Intangible assetspatents		41,900
Total		$2,713,000			Total		$2,713,000

The following information is available for the 2020 fiscal year:

1.		Net income was $405,000. Interest paid is classified as operating activities.
2.		Equipment (cost of $21,500and accumulated depreciation of $8,080) was sold for $11,800.
3.		Depreciation expense was $4,060on the building and $9,170on equipment.
4.		Amortization expense on a patent was $3,020.
5.		Current assets other than cash increased by $30,000. Current liabilities increased by $16,000.
6.		An addition to a building was completed at a cost of $32,900.
7.		An FV-OCI investment in shares was purchased for $22,200on the last day of the year. This was the first such investment made bySheffieldin its history.
8.		Bonds payable of $76,700were issued at par.
9.		Cash dividends of $181,000were declared and paid. Dividends paid are treated as financing activities.

Sheffieldprepares financial statements in accordance with IFRS.

Prepare a statement of financial position (SFP) as at December 31, 2020. (Hint: You will need to adjust ("plug") the December 31, 2020 amount of current assets to ensure the SFP balances.)(List Property, Plant and Equipment in order of Land, Buildings and Equipment.)

SheffieldCorporation Statement of Financial Position choose the accounting period For the Year Ended December 31, 2020 For the Month Ended December 31, 2020 December 31, 2020
Assets
select a balance sheet item Current Assets Shareholders' Equity Total Liabilities Total Property, Plant, And Equipment Property, Plant, And Equipment Long-Term Liabilities Intangible Assets Total Shareholders' Equity Total Liabilities And Shareholders' Equity Current Liabilities Total Assets						$enter a dollar amount
enter a balance sheet item						enter a dollar amount
select an opening name for subsection one Property, Plant, And Equipment Long-Term Liabilities Total Shareholders' Equity Intangible Assets Current Liabilities Total Assets Total Liabilities And Shareholders' Equity Total Liabilities Total Property, Plant, And Equipment Shareholders' Equity Current Assets
enter a balance sheet item				$enter a dollar amount
enter a balance sheet item		$enter a dollar amount
select between addition and deduction Add Less :enter a balance sheet item		enter a dollar amount		enter a subtotal of the two previous amounts
enter a balance sheet item		enter a dollar amount
select between addition and deduction Add Less :enter a balance sheet item		enter a dollar amount		enter a subtotal of the two previous amounts
select a closing name for subsection one Total Property, Plant, And Equipment Total Assets Current Liabilities Total Liabilities Total Liabilities And Shareholders' Equity Intangible Assets Shareholders' Equity Current Assets Property, Plant, And Equipment Long-Term Liabilities Total Shareholders' Equity						enter a total amount for subsection one
select an opening name for subsection two Total Property, Plant, And Equipment Current Liabilities Current Assets Long-Term Liabilities Property, Plant, And Equipment Shareholders' Equity Intangible Assets Total Liabilities Total Liabilities And Shareholders' Equity Total Assets Total Shareholders' Equity
enter a balance sheet item						enter a dollar amount
select a closing section name for this part of the statement of financial position Total Property, Plant, And Equipment Intangible Assets Total Liabilities And Shareholders' Equity Current Liabilities Long-Term Liabilities Current Assets Property, Plant, And Equipment Total Shareholders' Equity Total Assets Total Liabilities Shareholders' Equity						$enter a total amount for this part of the statement of financial position
Liabilities and Shareholders' Equity
select a balance sheet item Shareholders' Equity Total Liabilities Total Property, Plant, And Equipment Current Liabilities Intangible Assets Property, Plant, And Equipment Total Assets Long-Term Liabilities Total Shareholders' Equity Total Liabilities And Shareholders' Equity Current Assets						$enter a dollar amount
select an opening subsection name Current Assets Property, Plant, And Equipment Current Liabilities Long-Term Liabilities Total Liabilities Total Liabilities And Shareholders' Equity Shareholders' Equity Total Property, Plant, And Equipment Total Assets Total Shareholders' Equity Intangible Assets
enter a balance sheet item						enter a dollar amount
select a closing name for section one Total Assets Shareholders' Equity Total Liabilities Intangible Assets Total Liabilities And Shareholders' Equity Total Shareholders' Equity Current Liabilities Long-Term Liabilities Property, Plant, And Equipment Total Property, Plant, And Equipment Current Assets						enter a total amount for this section of the statement of financial position
select an opening name for section two Intangible Assets Total Shareholders' Equity Total Assets Total Liabilities And Shareholders' Equity Current Liabilities Total Liabilities Long-Term Liabilities Current Assets Property, Plant, And Equipment Shareholders' Equity Total Property, Plant, And Equipment
enter a balance sheet item				$enter a dollar amount
enter a balance sheet item				enter a dollar amount
select a closing name for section two Current Liabilities Intangible Assets Total Liabilities And Shareholders' Equity Long-Term Liabilities Property, Plant, And Equipment Total Liabilities Shareholders' Equity Total Property, Plant, And Equipment Total Assets Current Assets Total Shareholders' Equity						enter a total of the two previous amounts
select a closing name for this part of the statement of financial position Long-Term Liabilities Total Shareholders' Equity Shareholders' Equity Total Liabilities And Shareholders' Equity Total Liabilities Total Property, Plant, And Equipment Current Assets Intangible Assets Current Liabilities Property, Plant, And Equipment Total Assets						$enter a total amount for this part of the statement of financial position

eTextbook and MediaList of Accounts

Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method.(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

SheffieldCorporation Statement of Cash Flows choose the accounting period For the Month Ended December 31, 2020 December 31, 2020 For the Year Ended December 31, 2020
select an opening name for section one Cash at End of year Net Cash Used by Investing Activities Net Cash Provided by Investing Activities Cash Flows from Financing Activities Net Cash Provided by Operating Activities Net Increase in Cash Cash at Beginning of Year Net Decrease in Cash Net Cash Provided by Financing Activities Net Cash Used by Operating Activities Cash Flows from Operating Activities Cash Flows from Investing Activities Net Cash Used by Financing Activities
select an item Patent Amortization Expense Increase in Current Liabilities Depreciation Expense Decrease in Current Liabilities Payment of Dividends Proceeds from Disposal of Equipment Purchase of FV- OCI Investments Issuance of Bonds Addition to Building Net Income / (Loss) Increase in Current Assets (Other than Cash) Decrease in Current Assets (Other than Cash) Loss on Disposal of Equipment				$enter a dollar amount
Adjustments to reconcile net income to net cash provided by operating activities:
select an item Loss on Disposal of Equipment Net Income / (Loss) Addition to Building Gain on Disposal of Equipment Purchase of FV- OCI Investments Increase in Current Assets (Other than Cash) Proceeds from Disposal of Equipment Decrease in Current Liabilities Increase in Current Liabilities Payment of Dividends Patent Amortization Expense Issuance of Bonds Decrease in Current Assets (Other than Cash) Depreciation Expense		$enter a dollar amount
select an item Decrease in Current Liabilities Gain on Disposal of Equipment Decrease in Current Assets (Other than Cash) Payment of Dividends Increase in Current Liabilities Loss on Disposal of Equipment Net Income / (Loss) Depreciation Expense Purchase of FV- OCI Investments Issuance of Bonds Proceeds from Disposal of Equipment Addition to Building Increase in Current Assets (Other than Cash) Patent Amortization Expense		enter a dollar amount
select an item Payment of Dividends Proceeds from Disposal of Equipment Net Income / (Loss) Purchase of FV- OCI Investments Increase in Current Liabilities Loss on Disposal of Equipment Decrease in Current Assets (Other than Cash) Decrease in Current Liabilities Gain on Disposal of Equipment Addition to Building Depreciation Expense Issuance of Bonds Increase in Current Assets (Other than Cash) Patent Amortization Expense		enter a dollar amount
select an item Issuance of Bonds Decrease in Current Assets (Other than Cash) Addition to Building Increase in Current Liabilities Depreciation Expense Purchase of FV- OCI Investments Decrease in Current Liabilities Payment of Dividends Loss on Disposal of Equipment Proceeds from Disposal of Equipment Patent Amortization Expense Gain on Disposal of Equipment Net Income / (Loss) Increase in Current Assets (Other than Cash)		enter a dollar amount
select an item Decrease in Current Assets (Other than Cash) Addition to Building Proceeds from Disposal of Equipment Loss on Disposal of Equipment Patent Amortization Expense Issuance of Bonds Payment of Dividends Increase in Current Assets (Other than Cash) Gain on Disposal of Equipment Increase in Current Liabilities Purchase of FV- OCI Investments Net Income / (Loss) Decrease in Current Liabilities Depreciation Expense		enter a dollar amount
				enter a total amount of the adjustments
select a closing name for section one Cash Flows from Operating Activities Net Increase in Cash Net Cash Used by Financing Activities Net Cash Provided by Operating Activities Cash Flows from Investing Activities Net Cash Provided by Investing Activities Cash at End of year Net Cash Provided by Financing Activities Net Cash Used by Operating Activities Cash Flows from Financing Activities Net Cash Used by Investing Activities Net Decrease in Cash Cash at Beginning of Year				enter a total amount for section one
select an opening name for section two Net Cash Used by Financing Activities Cash Flows from Investing Activities Net Cash Used by Investing Activities Cash Flows from Operating Activities Cash at End of year Net Decrease in Cash Net Increase in Cash Net Cash Provided by Financing Activities Cash at Beginning of Year Net Cash Used by Operating Activities Cash Flows from Financing Activities Net Cash Provided by Operating Activities Net Cash Provided by Investing Activities
select an item Payment of Dividends Proceeds from Disposal of Equipment Increase in Current Assets (Other than Cash) Increase in Current Liabilities Patent Amortization Expense Depreciation Expense Addition to Building Decrease in Current Liabilities Purchase of FV- OCI Investments Gain on Disposal of Equipment Loss on Disposal of Equipment Issuance of Bonds Decrease in Current Assets (Other than Cash) Net Income / (Loss)		enter a dollar amount
select an item Patent Amortization Expense Increase in Current Assets (Other than Cash) Decrease in Current Liabilities Net Income / (Loss) Payment of Dividends Purchase of FV- OCI Investments Depreciation Expense Proceeds from Disposal of Equipment Issuance of Bonds Gain on Disposal of Equipment Addition to Building Loss on Disposal of Equipment Decrease in Current Assets (Other than Cash) Increase in Current Liabilities		enter a dollar amount
select an item Addition to Building Purchase of FV- OCI Investments Proceeds from Disposal of Equipment Depreciation Expense Issuance of Bonds Patent Amortization Expense Gain on Disposal of Equipment Payment of Dividends Loss on Disposal of Equipment Increase in Current Liabilities Decrease in Current Assets (Other than Cash) Decrease in Current Liabilities Net Income / (Loss) Increase in Current Assets (Other than Cash)		enter a dollar amount
select a closing name for section two Cash at Beginning of Year Net Increase in Cash Cash Flows from Financing Activities Net Decrease in Cash Net Cash Used by Financing Activities Cash at End of year Net Cash Provided by Operating Activities Cash Flows from Investing Activities Net Cash Used by Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Used by Operating Activities				enter a total amount for section two
select an opening name for section three Net Cash Provided by Financing Activities Cash Flows from Investing Activities Net Increase in Cash Net Cash Used by Financing Activities Cash at End of year Net Cash Used by Investing Activities Cash at Beginning of Year Net Decrease in Cash Cash Flows from Operating Activities Net Cash Provided by Operating Activities Cash Flows from Financing Activities Net Cash Used by Operating Activities Net Cash Provided by Investing Activities
select an item Addition to Building Proceeds from Disposal of Equipment Depreciation Expense Patent Amortization Expense Loss on Disposal of Equipment Gain on Disposal of Equipment Increase in Current Liabilities Decrease in Current Assets (Other than Cash) Purchase of FV- OCI Investments Payment of Dividends Increase in Current Assets (Other than Cash) Issuance of Bonds Net Income / (Loss) Decrease in Current Liabilities		enter a dollar amount
select an item Proceeds from Disposal of Equipment Increase in Current Assets (Other than Cash) Purchase of FV- OCI Investments Issuance of Bonds Depreciation Expense Addition to Building Payment of Dividends Decrease in Current Liabilities Gain on Disposal of Equipment Loss on Disposal of Equipment Decrease in Current Assets (Other than Cash) Increase in Current Liabilities Net Income / (Loss) Patent Amortization Expense		enter a dollar amount
select a closing name for section three Net Increase in Cash Net Cash Provided by Investing Activities Net Cash Provided by Financing Activities Net Cash Provided by Operating Activities Cash at Beginning of Year Cash Flows from Operating Activities Cash Flows from Investing Activities Net Cash Used by Investing Activities Net Cash Used by Financing Activities Cash Flows from Financing Activities Cash at End of year Net Decrease in Cash Net Cash Used by Operating Activities				enter a total amount for section three
select an item Net Decrease in Cash Net Cash Provided by Investing Activities Net Cash Used by Investing Activities Net Cash Provided by Financing Activities Cash Flows from Operating Activities Net Cash Provided by Operating Activities Cash at Beginning of Year Net Increase in Cash Cash at End of year Cash Flows from Investing Activities Cash Flows from Financing Activities Net Cash Used by Financing Activities Net Cash Used by Operating Activities				$enter a total amount for three sections