The statement of financial position of Grouper Corporation follows for the current year, 2020: GROUPER CORPORATION Statement of Financial Position December 31, 2020 Current assets $451,050 Current liabilities Investments 595,200 Long-term liabilities Property, plant, and equipment 1.599,600 Shareholders' equity Intangible assets 246,450 $2.892.300 $353,400 892,800 1,646,100 $2,892,300 The following additional information is available: 1. The current assets section includes the following: cash $139,500 accounts receivable $158.100, less $9.300 allowance fe doubtful accounts; inventory $167.400, and unearned revenue $4650. The cash balance is composed of $176,700, less a bank overdraft of $37.200 (at a separate financial institution) Inventory is stated at the lower of FIFO.cost and net realizable value The investments section includes the following not receivable from a related company.due in 2026. $37.200; FV.NI investments in shares $74,400 (fair value $74,400): FV OCH investments in shares $116.250 (rair value $144.150) bond sinking fund $232.500, and a $106.950net of accumulated amortization 2 3. 4. 5. Property, Plant, and Equipment include buildings $967200, less accumulated depreciation $334,800; equipment $418,500, less accumulated depreciation $167.400; land $465,000, and land held for future use $251.100. Intangible Assets include franchise, net of accumulated amortization, $246,450. Current liabilities include the following accounts payable $130.200 notes payable, short-term $74.400, long-term $111,600; and income tax payable $37,200. Long-term liabilities are composed solely of 7% bonds payable issued at a discount, due in 2028. Shareholders equity has 70,000 preferred shares (200,000 authorized), which were issued for $418,500, and 93.000 common shares (unlimited number authorized), which were issued at an average price of $10 per share. In addition, the corporation has retained earnings of $269.700 and accumulated other comprehensive income of $27.900. 6. 7. Prepare a statement of financial position in good form. (Adjust the amounts in each SFP classification based on the additional information.) (List Assets in order of liquidity. List Property, Plant and Equipment in order of Land Buildings and Equipment.) GROUPER CORPORATION Statement of Financial Position Assets S $ Liabilities and Shareholders' Equity A > >