The bookkeeper for Snoopy Company has prepared the following statement of financial position as of July 31, 2015

Snoopy Company

Statement of Financial Position

as of July 31, 2015

Patents	$ 21,000	Non-Current Liablities	$ 75,000
Inventories	60,000	Equity	155,500
Equipment	84,000	Notes and Account Payable	44,000
Cash	69,000
Account Receivable	40,500
	$ 274,500		$ 274,500

The following additional informations are provided,

Cash includes $ 3,000 in petty cash fund and $ 18,000 in a bond sinking fund

The net account receivabe balance is comprised of the following three items : (a) account receivable debit balances $ 54,000; (b) account receivable credit balances $ 10,000; and (c) allowance for doubtful accounts $ 3,500.

Merchandise inventory costing $ 10,500 was shipped out on consignment on July 31, 2015. The ending inventory balance does not include the consignment goods. Reveivables in the amount of $ 10,500 were recognized on these consignment goods.

Company has a plan to sell an equipment with a cost of $ 10,000 and an accumulated depreciation of $ 8,000, so it is held for future sale. The other equipment had an accumulated depreciation of $ 93,000.

Taxes payable of $ 11,000 were accrued on July 31. Snoopy Company, however, had a set up a cash fund to meet this obligation. This cash fund was not included in the cash balance, but was offset against the taxes payable amount.

Prepare a corrected classified statement of financial position as of July 31. 2015 based on GAAP