The following statement of financial position was prepared by the bookkeeper for Kraus Company as of December 31, 2019. Kraus Company Statement of Financial Position as of December 31, 2019 Investments 76,300 Equity 215,500 Equipment (net) 96,000 Non-current liabilities 100,000 Patents 32,000 Accounts payable 78,000 57,000 Inventories Accounts receivable (net) 52,200 Cash 80,000 393,500 393,500 The following additional information is provided: 1. Cash includes the cash surrender value of a life insurance policy 12,400, and a bank overdraft of 2,500 has been deducted. 2. The net accounts receivable balance includes: (a) accounts receivable-debit balances 60,000; (b) accounts receivable--credit balances 4,000; (c) allowance for doubtful accounts 3,800. 3. Inventories do not include goods costing 5,000 shipped out on consignment. Receivables of 5,000 were recorded on these goods. 4. Investments include investments in ordinary shares, trading 19,000 and non-trading 48,300, and franchises 9,000. 5. Equipment costing 5,000 with accumulated depreciation 4,000 is no longer used and is held for sale. Accumulated depreciation on the other equipment is 40,000. Instructions Prepare a statement of financial position in good form (shareholders' equity details can be omitted.)