The following information (in thousands) is available for Wang Company for the year ended December 31, 2019: Accounts payable $ 2,700 Accumulated depreciation-equipment -4,000 Share capital-ordinary 5,800 Retained earnings 4,000 Copyrights 4,500 Notes payable (due in 5 years) 7,500 Accounts receivable 1,500 Cash _2,600 Inventory 1,000 Equipment 17,500 Patent 6,900 Instructions a) Use the above information to prepare a classified statement of financial position for the year ended December 31, 2019. 60 points Assets Equity and Liabilities Equity Non-Current Assets Total equity Liabilities Non-Current Liabilities Current Assets Current Liabilities Total Liabilities Total equity and Liabilities Total Assets The following lettered items represent a classification scheme for a statement of financial position and the numbered items represent accounts found on balance sheets. In the blank next to each account, write the letter indicating to which category it belongs. A. Equity B. Non-current Liabilities Cu Current Liabilities D. Intangible assets E. Property, plant, and equipment F. Current Assets Solution 1 Franchise 2 Patent 3 Accumulated depreciation 4 Building 5 Inventory Prepaid Insurance 6 7 Retained earnings 8 Share capital 9 Notes payable 10 Salaries payable