The bookkeeper for Blue Spruce Corp. has prepared the following statement of financial position as at July 31, 2020:

BLUE SPRUCE CORP. Statement of Financial Position As at July 31, 2020
Cash		$88,000		Notes and accounts payable		$56,000
Accounts receivable (net)		52,000		Long-term liabilities		79,000
Inventory		78,000		Shareholders' equity		284,000
Equipment (net)		164,000
Patents (net)		37,000
		$419,000				$419,000

The following additional information is provided:

1.		Cash includes $1,600 in a petty cash fund and $27,000 in a bond sinking fund.
2.		The net accounts receivable balance is composed of the following three items: (a) accounts receivable debit balances $65,000; (b) accounts receivable credit balances $9,200; and (c) allowance for doubtful accounts $3,800.
3.		Inventory costing $7,300 was shipped out on consignment on July 31, 2020. The ending inventory balance does not include the consigned goods. Receivables of $7,300 were recognized on these consigned goods.
4.		Equipment had a cost of $203,000 and an accumulated depreciation balance of $39,000.
5.		Income Tax Payable of $10,700 was accrued on July 31. Blue Spruce Corp., however, had set up a cash fund to meet this obligation. This cash fund was not included in the cash balance, but was offset against the income tax payable account.
6.		Long-term liabilities are bonds payable issued at par, due in 2025.
7.		Shareholders equity is made up of two account balances: Common Shares of $189,300 and Retained Earnings of $94,700.

(a) Use the information available to prepare a corrected classified statement of financial position as at July 31, 2020. (Adjust the account balances based on the additional information.) (List Current Assets in order of liquidity.)