The bookkeeper for the company has prepared the following balance sheet as at December 31, 2018:

Cameron Corp

Balance Sheet

December 31, 2019

Cash	$ 40,250 (1)		Current Liabilities	$ 237,500
Accounts Receivable (net)	85,550 (2)		Long-term Liabilities	437,500
Inventories	105,000 (3)		Shareholders Equity	494,800
Investments	60,000 (4)
Land	350,000 (5)
Building (net)	525,000 (6)
Copyright (net)	4,000 (7)
	$1,169,800			$1,169,800

The following additional information is provided:

1. The cash balance includes:

Petty cash fund	$ 250
Cash advance to employee, payable on demand	1,000
Saving Account at TD Bank	23,000
Certificate of deposit (90-days)	10,000
Chequing account at the Bank of Montreal	6,750
Bank overdraft at the Scotia Bank	(750)
Total	$ 40,250

2. - The allowance for doubtful accounts $7,750.

3. - The net realizable value of the inventory that is included in the Balance Sheet is $100,000. - - Inventories do not include $15,000 of merchandise that was in transit at December 31, which was sold to a customer with terms f.o.b. destination. The inventory reached the customer on January 5, 2020

- Inventories also do not include $20,000 inventory that was received by Royale Ltd. for consignment.

4. The investments section includes the following: notes receivable that was issued on September 1st, 2019 bearing interest at 6% and due on August 31, 2020 $20,000; long-term FV-OCI investment $30,000 carrying value (fair value $26,000 at December 31,2019); and FV-NI Investment 500 common shares of Landon Inc. purchased at $10.00 per share (fair value $11.50 per share at December 31,2019). The company expects to sell the FV-NI shares as soon as the market price increases next year.

5. The land balance includes: land used for operations and recorded at its appraised value of $350,000 (the original cost of the land was $275,000). The company uses the historical cost method to account for property, plant & equipment.

6. The building originally cost $750,000. Depreciation for 2019 has already been recorded.

7. The copyright originally cost $10,000 and is being amortized over 5 years on a straight-line basis. Amortization for 2019 had already been recorded.

8. The company borrowed $50,000 from ABC Bank. The bank charges 5% and the loan is due May 1st 2025. As part of the bank loan ABC Bank required Cameron Corp. to pledge their building as security for the loan (in other words it is the banks collateral).

Question

The company is a Canadian public company. Restate the asset side of Camerons Statement of

Financial Position sheet at December 31, 2019 in good form, including any disclosure

requirements. The categories are: Current Assets, Long-term Investments, Property, Plant &

Equipment and Intangible Assets. You can refer to chapter 5, 7, 8, 9, 10 and 11.