The statement of financial position of Concord Corporation as at December 31, 2020, is as follows: CONCORD CORPORATION Statement of Financial Position December 31, 2020 Assets $ 49,000 Goodwill (Note 1) Buildings (Note 2) 1,148,000 218,470 Inventory Investments-trading (Note 3) 70,000 Land 665,000 Accounts receivable 119,000 60,900 Investments in shares (FV-OCI) (Note 4) Cash Assets allocated to trustee for plant expansion 123,130 Cash 84,000 Treasury notes, at cost and fair value 96,600 $ 2,634,100 Equities $ 420,000 805,000 Notes payable (Note 4) Common shares, unlimited authorized, 500,000 issued Retained earnings Accounts payable 494,200 176,400 Appreciation capital (Note 2) 399,000 52,500 Income tax payable Reserve for depreciation of building 287,000 $ 2,634,100 1. Note Goodwill in the amount of $ 49,000 was recognized because the company believed that the carrying amount of assets was 1: not an accurate representation of the company's fair value. The gain of $ 49,000 was credited to retained Earnings. Note 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 $ 399,000. Depreciation has been recorded based on cost. Note Investments-trading are FV-NI (fair value through net income) investments and have a fair value of $ 52,500. Investments in 3: shares (FV-OCI) have a fair value of $ 140,000. Both investments are currently recorded at cost. 2: Note Notes payable are long-term except for the current principal instalment due of $ 70,000. (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.) CONCORD CORPORATION Statement of Financial Position Assets