The bookkeeper for Village Corp has prepared the following balance sheet as at December 31, 2020.

Village Corp

Balance Sheet

December 31, 2020.

Cash	$ 93,000		Current Liabilities	$ 250,000
Accounts Receivable (net)	55,600		Long-term Liabilities	600,000
Inventories	70,000		Shareholders Equity	63,600
Investments	30,000
Land	200,000
Building (net)	450,000
Tradename (net)	15,000
	$913,600			$913,600

Petty cash fund	$ 100
T-bill	5,000
Cash advance to employee, payable on demand	2,000
Saving Account at TD Bank	35,500
Money market fund	10,000 10333333,00038,000
Chequing account at the Bank of Montreal	41,600
Bank overdraft at the Scotia Bank (no other accounts are held at this bank) BankCIBC)	(1,200)
Total	$ 93,000

2. The allowance for doubtful accounts $8,400.

3. The net realizable value of the inventory that is included in the Balance Sheet is $65,000

• Inventories do not include $45,000 merchandise that was in transit at December 31.
• Of this amount, $20,000 was bough from ONG Inc. with terms f.o.b destination point (the net realizable value of this inventory was $34,000).
• The remainder of inventory that cost $20,000 was shipped from Village to Park Inc. for consignment. The net realizable value for this inventory is $36,000.

4. The investments section includes the following:

• An interest bearing note receivable of $10,000 that was issued on October 1st, 2020 bearing interest at 3% and is due on October 1, 2021.
• Long term FV-OCI investment $8,000 carrying ( fair value $12, 000 at December 31, 2020). Management plans on holding on to these investments for a number of years.
• FV-NI Investments 1,000 common shares of Landon Inc. purchased at $12.00 per share (fair value $ 9.50 per share at December 31, 2020). Management plans on holding on to these investments for a number of years.
• FV-NI Investment 1,000 common shares of Landon Inc. purchased at $12.00 per share (fair value $9.50 per at December 31, 2020. Village expected to sell the shares as soon as the market price increases more next year.

5. The land balance includes : land used for operations and recorded at its cost $200,000 (the appraisal value of the land in 2020 was $500,000). The company doesn't use the revaluation model.

6. The building originally cost $800,000. Depreciation for 2020 has already been recorded.

Scotiabank has pledged the building as security for their $600,000 loan Village Corp. (collateral), loan bears annual interests of 8%.

7. The tradename originally cost $24,000 and is being amortized over 6 years on a straight line basis. Amortization for 2020 had already been recorded.

Required:

The Company is a Canadian public company. Restate the assets side of the Village Statement of Financial Position sheet at December 31, 2020 in good form. The categories at Current assets, Long term Investments, Property, Plant and equipment and Intangible Assets.

Part 2

Including any disclosure.

Part 3

Based on any changes to the value of the assets, what account would be included in the statement of earnings, and what section would each item be included in? Do not include Amortization expense or bad debt expense.

Part 4

Assuming the Accumulated other comprehensive income was $10,000 at the beginning of 2020 what would be the accumulated other comprehensive income at the end of the 2020?