The statement of financial position of Blue Spruce Corporation as at December 31, 2020, is as follows BLUE SPRUCE CORPORATION Statement of Financial Position December 31, 2020 Assets Goodwill (Note 1) $38,500 Buildings (Note 2) 902,000 Inventory 171,655 Investmentstrading (Note 3) 55,000 Land 522,500 Accounts receivable 93,500 Investments in shares (FV OCI) (Note 4) 47,850 Cash 96,745 Assets allocated to trustee for plant expansion Cash 66,000 Treasury notes, at cost and fair value 75,900 $2,069,650 Equities Notes payable (Note 4) $330,000 Common shares, unlimited authorized, 500,000 issued 632,500 Retained earnings 388,300 Accounts payable 138,600 Appreciation capital (Note 2) 313,500 Income tax payable 41,250 Reserve for depreciation of building 225,500 $2,069,650 Note 1 Goodwill in the amount of $38,500 was recognized because the company believed that the carrying amount of assets was not an accurate representation of the company's fair value The gain of $38,500 was credited to Retained Earnings Note 2 Buildings are stated at cost, except for one building that was recorded at its appraised value as management determined the building to be worth more than originally paid at acquisition The excess of the appraisal value over cost was $313,500 Depreciation has been recorded based on cost Note 3 Investmentstrading are FV NI (fair value through net income) investments and have a fair value of $41,250 Investments in shares (FV OCI) have a fair value of $110,000 Both investments are currently recorded at cost Note 4 Notes payable are long term except for the current principal instalment due of $55,000 (a) Prepare a corrected classified statement of financial position in good form The notes above are for information only Assume that you have decided not to use the revaluation model for property, plant, and equipment (List Current Assets in order of liquidity List Property, Plant and Equipment in order of Land, Buildings and Equipment ) BLUE SPRUCE CORPORATION Statement of Financial Position Assets

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The statement of financial position of Blue Spruce Corporation as at December 31, 2020, is as follows: BLUE SPRUCE CORPORATION Statement of Financial Position December

The statement of financial position of Blue Spruce Corporation as at December 31, 2020, is as follows:

BLUE SPRUCE CORPORATION Statement of Financial Position December 31, 2020
Assets
Goodwill (Note 1)		$38,500
Buildings (Note 2)		902,000
Inventory		171,655
Investmentstrading (Note 3)		55,000
Land		522,500
Accounts receivable		93,500
Investments in shares (FV-OCI) (Note 4)		47,850
Cash		96,745
Assets allocated to trustee for plant expansion
	Cash	66,000
	Treasury notes, at cost and fair value	75,900
		$2,069,650
Equities
Notes payable (Note 4)		$330,000
Common shares, unlimited authorized, 500,000 issued		632,500
Retained earnings		388,300
Accounts payable		138,600
Appreciation capital (Note 2)		313,500
Income tax payable		41,250
Reserve for depreciation of building		225,500
		$2,069,650

Note 1:	Goodwill in the amount of $38,500 was recognized because the company believed that the carrying amount of assets was not an accurate representation of the company's fair value. The gain of $38,500 was credited to Retained Earnings.
Note 2:	Buildings are stated at cost, except for one building that was recorded at its appraised value as management determined the building to be worth more than originally paid at acquisition. The excess of the appraisal value over cost was $313,500. Depreciation has been recorded based on cost.
Note 3:	Investmentstrading are FV-NI (fair value through net income) investments and have a fair value of $41,250. Investments in shares (FV-OCI) have a fair value of $110,000. Both investments are currently recorded at cost.
Note 4:	Notes payable are long-term except for the current principal instalment due of $55,000.

(a) Prepare a corrected classified statement of financial position in good form. The notes above are for information only. Assume that you have decided not to use the revaluation model for property, plant, and equipment. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.)