1. The following is a list of the assets and claims of Orion Pharmaceuticals as at 31 December last year:
   • Trade payables: $90,000
   • Motor vehicles: $43,000
   • Long-term borrowing (loan from HealthBank): $275,000
   • Equipment and tools: $220,000
   • Short-term borrowings: $135,000
   • Inventories: $158,000
   • Property: $345,000
   • Trade receivables: $185,000

Required:

(a) Prepare the statement of financial position of the business as at 31 December last year from the information provided, using the standard layout. (Hint: There is a missing item that needs to be deduced and inserted.)

(b) Discuss the financial health revealed by this financial statement.