The statement of financial position of Kingbird Limited follows for the current year, 2020:

KINGBIRD LIMITED Statement of Financial Position December 31, 2020
Current assets		$164,920		Current liabilities		$120,280
Investments		106,640		Long-term liabilities		210,800
Property, plant, and equipment		262,880		Shareholders equity		290,160
Intangible assets		39,680
Other assets		47,120
		$621,240				$621,240

The following additional information is available and is the source of errors in classification which need to be corrected.

1.		Current Assets include the following: bank account with an overdraft balance of $18,600; inventory with a FIFO cost of $107,880 and a net realizable value of $105,400; accounts receivable of $81,840 less allowance for doubtful accounts of $3,720.
2.		Investments include the following: a mortgage receivable from parent company $74,400, due in 2025; FV-NI investments held for trading with a cost of $12,400 and a fair value of $14,880; FV-OCI investments with a cost of $18,600 and a fair value of $17,360.
3.		Property, Plant and Equipment include the following: land $29,760; buildings $539,400 less accumulated depreciation of $359,600; vehicles $97,960 less accumulated depreciation of $60,760; land held for future use $16,120.
4.		Intangible assets include the following:patents net of accumulated amortization of $39,680.
5.		Other assets include the following: customer deposits of $8,680, unearned revenue of $3,720, goodwill $54,560 and accumulated other comprehensive income (loss) of $(4,960).
6.		Current Liabilities include the following: pension obligation of $66,960, interest payable of $4,960; salaries and wages payable of $9,920; accounts payable $38,440.
7.		Long-term Liabilities include the following:demand bank loan of $93,000; mortgage payable $117,800 of which $8,680 is due in the next year.
8.		Shareholders Equity has 1,240 preferred shares (37,200 authorized) which were issued at an average price of $75 per share, and an unlimited number of authorized common shares with 68,200 shares issued at an average price of $1 per share, retained earnings of $128,960.

Prepare a statement of financial position in good form. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Vehicles.)

Kingbird Limited Statement of Financial Position For the Year Ended December 31, 2020December 31, 2020For the Month Ended December 31, 2020

Liabilities and Shareholders' Equity $ $ 8