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 Equipment (net) Patents Inventories Accounts receivable (net) Cash Equity Non-current liabilities Accounts payable 215,500 100,000 78,000 76,300 96,000 32,000 57,000 52,200 80,000 393,500 1393,500 The following additional information is provided: 1. Inventories do not include goods costing 5,000 shipped out on consignment. Receivables of $5,000 were recorded on these goods. 2. 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.)