The comparative statement of financial position for Pharoah Retailers Ltd. follows: PHAROAHRETAILERS LTD. Statement of Financial Position December 31 Assets 2021 2020 Cash 0 $ 22,000 Accounts receivable 79,000 55,000 Inventory 218,000 166,000 Furniture 129,000 161,000 Accumulated depreciation Total assets (38,000 ) (46,000 ) $ 388,000 $ 358,000 Liabilities and Shareholders' Equity Bank overdraft $ 4,000 $ 0 Accounts payable 68,000 46,000 Bank loan payable (noncurrent) 90,000 104,000 Common shares 53,000 63,000 Retained earnings 173,000 145,000 Total liabilities and shareholders' equity $ 388,000 $ 358,000