The accounts of Casbah Inc have the following balances on its trial balance at December 31, 2020. All accounts have normal balances.

Account	Balance
Cash	$43,000
Construction in process	124,000
Accumulated other comprehensive income	45,000
Accounts receivable	173,500
Allowance for doubtful Accounts	9,200
Prepaid insurance	7,000
Inventory	191,400
Notes payable	94,000
FV-OCI investments	339,000
Land	89,000
Income tax payable	49,200
Equipment	400,000
Accounts payable	137,500
Common shares	500,000
Bonds payable at net carrying value	180,000
Retained earnings	(see Addition Information #10)
Intangible assetspatents	36,000
Accumulated depreciationequipment	240,000
Cash Dividends Payable	20,000
Equipment Held for Future Use	30,000

Additional information:

1. The inventory has a net realizable value of $212,000. The FIFO method of inventory valuation is used.

2. The FV-OCI investments' fair value is $388,000.

3. The amount of the Construction in Process account represents the costs to date on a building in the process of construction. (The company is renting factory space while waiting for the new building to be completed.) The land that the building is being constructed on cost $89,000, as shown in the trial balance.

4. The company purchased the patents at a cost of $40,000 and the patents are being amortized on a straight-line basis.

5. The bonds payable have a face value of $200,000, bear interest at 7% payable every December 31, and are due January 1, 2032.

6. The bond payable has a face value of $200,000. $2,000 will be amortized in 2021

7. The notes payable represent bank loans that are secured by FV-OCI investments carried at $120,000. These loans are due in 2021.

8. For common shares, an unlimited number are authorized and 500,000 are issued and outstanding.

9. Cash includes a $5,000 bank overdraft held at the same bank.

10. Find the value needed in Retained Earnings to balance the statement of Financial Position.

Instructions: Using all of the above information, prepare a classified statement of financial position at December 31, 2020, ensuring all important information is fully disclosed. Disclose contra-accounts on the face of your statement of financial position where known. Show all calculations. Prepare an appropriate three-line title for your statement and ensure current assets are in order of liquidity. Show all calculations.