The bookkeeper for Garfield Company has prepated the following statement of financial position as of July 31, 2015. (amounts in thousands)

Equipment (net) 84,000. Equity. 155,500

Patents. 21,000. Non- current liabilities. 75,000

Notes & accounts payable 44,000

Inventory. 60,000

Accounts receivable. 40,500. --------------------

Cash. 69000. 274,500

---------------

274,500

The following additional informatio is provided.

1. Cash incl[des 1200 in a petty cash fund abd 12,000 in a bond sinking fund.

2. The net accounts receivable balance is comprised of the following three itens: (a) accounts receivable-debit balances 52,000, (b) accounts receivable-credit balances 8000, and (c) allowance for doubtful accounts 3,500

3. Inventory costing 5,300 was shipped out on consignment on July 31, 2015. The ending inventory balance does not include the consigned goods. Receivables in the amonut of 5,300 were recognized on these consigned goods.

4. Equipment had a cost of 112,000 and an accumulated depreciation balance of 28,000.

5. Income taxes payable of 9,000 were accrued on July 31. Garfield Company, 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 taxes payable amonut.

Prepare a corrected classified statement of financial position as of July 31, 2015, from the avaiable information, adjusting the account balances using the additional information. (list current assats in reverse order of liquidity)