The bookkeeper for Bramble Corp. has prepared the following statement of financial position as at July 31, 2017: BRAMBLE CORP. Statement of Financial Position As at July 31, 2017 Cash $78,000 Accounts payable Accounts receivable (net) 48,300 Long-term liabilities Inventory 68,000 Shareholders' equity Equipment (net) 105,000 Patents 24,000 $323,300 $57,000 83,000 183,300 $323,300 The following additional information is provided: 1. Cash includes $2,200 in a petty cash fund and $15,000 in a bond sinking fund. 2. The net accounts receivable balance is composed of the following three items: (a) accounts receivable debit balances $62,000; (b) accounts receivable credit balances $8,600; (c) allowance for doubtful accounts $5,100. 3. Inventory costing $6,100 was shipped out on consignment on July 31, 2017. The ending inventory balance does not include the consigned goods. Receivables of $6,100 were recognized on these consigned goods. 4. Equipment had a cost of $153,000 and an accumulated depreciation balance of $48,000. 5. Income Tax Payable of $9,200 was accrued on July 31. Bramble 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 2022. 7. Shareholders' equity is made up of two account balances: Common Shares of $122,200 and Retained Earnings of $61,100. Use the information available to prepare a corrected classified statement of financial position as at July 31, 2017. (Adjust the account balances based on the additional information.) (List Current Assets in order of liquidity.) BRAMBLE Corp. Statement of Financial Position July 31, 2017 Assets Current Assets Cash $ Accounts Receivable $ Less Allowance for Doubtful Accounts . Inventory Total Current Assets Long-Term Investments Bond Sinking Fund Investment Property, plant, and Equipment Equipment Less Accumulated Depreciation - Equipment Less Accumulated Depreciation - Equipment Intangible Assets Patents Total Assets $ Liabilities and Shareholders' Equity Current Liabilities Accounts Payable $ Income Tax Payable Total Current Liabilities Long-term Liabilities Bonds Payable Total Liabilities Shareholders' Equity Common Shares $ Retained Earnings Total Liabilities Shareholders' Equity Common Shares $ Retained Earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity $