The statement of financial position of Metlock Limited follows for the current year, 2020: METLOCK LIMITED Statement of Financial Position December 31, 2020 Current assets $143,640 Current liabilities $104,760 Investments 92,880 Long-term liabilities 183,600 Property, plant, and equipment 228,960 Shareholders' equity 252,720 Intangible assets 34,560 Other assets 41,040 $541,080 $541,080 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 $16,200; inventory with a FIFO cost of $93,960 and a net realizable value of $91,800; accounts receivable of $71,280 less allowance for doubtful accounts of $3,240. Investments include the following: a mortgage receivable from parent company $64,800, due in 2025; FV-Nl investments held for trading with a cost of $10,800 and a fair value of $12,960; FV-OCl investments with a cost of $16,200 and a fair value of $15,120. 2. 3. 3 Property, Plant and Equipment include the following: land $25,920; buildings $469,800 less accumulated depreciation of $313,200; vehicles $85,320 less accumulated depreciation of $52,920; land held for future use $14,040. 4. 5. Intangible assets include the following:patents net of accumulated amortization of $34,560. Other assets include the following: customer deposits of $7,560, unearned revenue of $3,240, goodwill $47,520 and accumulated other comprehensive income (loss) of $(4,320). 6. Current Liabilities include the following: pension obligation of $58,320, interest payable of $4,320; salaries and wages payable of $8,640; accounts payable $33,480. 7. Long-term Liabilities include the following:demand bank loan of $81,000; mortgage payable $102,600 of which $7,560 is due in the next year. 8. Shareholders' Equity has 1,080 preferred shares (32,400 authorized) which were issued at an average price of $75 per share, and an unlimited number of authorized common shares with 59,400 shares issued at an average price of $1 per share, retained earnings of $112,320. 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.) Metlock Limited Statement of Financial Position . Assets