Statement of financial position items for Pronghorn Inc. follow for the current year 2020; Goodwill $123,750 Accumulated depreciation-equipment $289,080 Bank loan 175,815 Inventory 237,402 Bonds payable due 2024 282,300 Rent payable 44, 550 Cash 356.400 Income tax payable 97,378 Land 475,200 Rent payable (long-term) 475,200 Notes receivable 441,243 Common shares (20,000 shares issued) 198,000 Notes payable 262,350 Preferred shares (15,000 shares issued) 148,500 Accounts payable 485,100 Prepaid expenses 87,041 Retained earnings Equipment 1,455,300 Income tax receivable 96,654 FV-NI investments 119.790 Notes payable ( due in five years) 1,584,000 Accumulated depreciation-buildings 267,498 Buildings 1,623,600 (a)BACK Question 1 of 21 v |NEXT (a) Prepare a classified statement of financial position in good form. The numbers of authorized shares are as follows; unlimited common and 20,000 preferred. Assume that income tax accounts, notes receivable, bank loan, and notes payable are short-term, unless stated otherwise, and that the FV-NI investments are stated at fair value. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.) Pronghorn Inc. Statement of Financial Position December 31, 2020 Assets