Statement of Financial Position (partial) June 30, 2022 Current Liablities Accounts payable Provisions Rent payable Deferred revenue Notes payable Lease Liability $12,500 00s 3,875 00s'L 000'SI 000'0s Long term liabilities Bonds payable (due 2030) Notes payable 7% (June 30, 2027) 1,910,000 150,000 Additional information: of 1. The notes payable balance is for a 6-month loan taken by Boom on January 31, 2022. The loan is due July 31, 2022. Interest (6%) and principal are due at maturity. No interest expense has yet been recorded on this loan. 2. During 2021, 5% of the fireworks manufactured by Boom were returned due to faulty operation. This percentage is normal and expected in this industry. The value shown under provisions for $2,500 is the value of expected refunds the company will need to make for the period, based on 5% of sales in 2022 3. During the period January 1 through June 30, deferred revenues were earned totalling $5.500 These earned revenues are not reflected in the above statement 4. While the following salanes and employee benefits have accrued for the month, they are not reflected in the above statement pane sauejes CPP (employee share) El (employee share) CPP (employer share) El (employer share) Emplovee income tax payable $1.893 5. Annual payments on the lease liability are 55.000 per year 6 The 7% note payable value includes the current portion of the loan The loan principal will be repaid in equal amounts over the next five years. $495 $188 $4495 $263