1. The following is a list of assets and claims of a food production company at a particular point in time:
   • Short-term borrowings: $20,000
   • Property: $285,000
   • Inventories of raw materials: $21,000
   • Trade payables: $26,000
   • Plant and equipment: $135,000
   • Loan from Food Finance Co. (long-term borrowing): $115,000
   • Inventories of finished goods: $30,000
   • Delivery vans: $53,000
   • Trade receivables: $44,000

Required:

Prepare a detailed balance sheet incorporating these figures. (Hint: There is a missing item that needs to be deduced and inserted.)