The following are the ending balances of accounts at December 31, 2019, for the Remal Corporation.

Account Title Debits Credits

Cash $ 25,000

Accounts receivable 56,000

Inventories 81,000

Interest payable $ 10,000

Marketable securities 44,000

Land 120,000

Buildings 300,000

Bonds due in 2025 250,000

Equipment 75,000

Accumulated depreciationequipment 25,000

Copyright (net of amortization) 12,000

Prepaid expenses (next 12 months) 32,000

Accounts payable 65,000

Investment in building 330,000

Unearned revenues (next 12 months) 20,000

Investment in treasury bills 350000

Notes payable 250,000

Allowance for uncollectible accounts 5,000

Ordinary Shares 200,000

Premium ordinary 100,000

Treasury shares 20,000

Other comprehensive income 25,000

Preference shares 100,000

Premium preference 50,000

Non-controlling interest 100,000

Retained earnings 70,000

Totals $1,350,000 $1,350,000

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Additional Information:

1. The $120,000 balance in the land account consists of $100,000 for the cost of land where the plant and office buildings are located. The remaining $20,000 represents the cost of land being held for speculation.

2. The $44,000 in the marketable securities account represents an investment in the ordinary shares of another corporation. Remal Corp. intends to sell one-half of the shares within the next year.

3. The notes payable account consists of a $100,000 note due in six months and a $150,000 note due in three annual installments of $50,000 each, with the first payment due in August of 2020.

4. ordinary share par value was $1 and 10$ par value preference.

Required:

Prepare a classified statement of financial position for the Remal Corporation at December 31, 2019.