The bookkeeper for Novak Corp. has prepared the following statement of financial position as at July 31, 2023: Novak Corp. Statement of Financial Position As at July 31, 2023 Cash $84,000 Notes and accounts payable $52,000 Accounts receivable (net) 39,800 Long-term liabilities 83,000 Inventory 72,000 Shareholders' equity 300,800 Equipment (net) 217,000 Patents (net) 23,000 $435,800 $435,800 The following additional information is provided: 1. Cash includes $1,700 in a petty cash fund and $29,000 in a bond sinking fund. 2. The net accounts receivable balance is composed of the following three items: (a) accounts receivable debit balances SUPPORT 2. The net accounts receivable balance is composed of the following three items: (a) accounts receivable debit balances $53,000; (b) accounts receivable credit balances $9,500; and (c) allowance for expected credit losses $3,700. 3. Inventory costing $7,300 was shipped out on consignment on July 31, 2023. 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 $263,000 and an accumulated depreciation balance of $46,000. 5. Income tax payable of $9,900 was accrued on July 31. Novak, 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 2028. 7. Shareholders' equity is made up of two account balances: Common Shares of $200,500 and Retained Earnings of $100,300. (a) Use the information available to prepare a corrected classified statement of financial position as at July 31, 2023. (Adjust the account balances based on the additional information.) (List Current Assets in order of liquidity.) NOVAK CORP. Statement of Financial Position SUPPORT Liabilities and Shareholders' Equity $