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

SPLISH BROTHERS LIMITED Statement of Financial Position December 31, 2020
Current assets		$154,280		Current liabilities		$112,520
Investments		99,760		Long-term liabilities		197,200
Property, plant, and equipment		245,920		Shareholders equity		271,440
Intangible assets		37,120
Other assets		44,080
		$581,160				$581,160

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 $17,400; inventory with a FIFO cost of $100,920 and a net realizable value of $98,600; accounts receivable of $76,560 less allowance for doubtful accounts of $3,480.
2.		Investments include the following: a mortgage receivable from parent company $69,600, due in 2025; FV-NI investments held for trading with a cost of $11,600 and a fair value of $13,920; FV-OCI investments with a cost of $17,400 and a fair value of $16,240.
3.		Property, Plant and Equipment include the following: land $27,840; buildings $504,600 less accumulated depreciation of $336,400; vehicles $91,640 less accumulated depreciation of $56,840; land held for future use $15,080.
4.		Intangible assets include the following:patents net of accumulated amortization of $37,120.
5.		Other assets include the following: customer deposits of $8,120, unearned revenue of $3,480, goodwill $51,040 and accumulated other comprehensive income (loss) of $(4,640).
6.		Current Liabilities include the following: pension obligation of $62,640, interest payable of $4,640; salaries and wages payable of $9,280; accounts payable $35,960.
7.		Long-term Liabilities include the following:demand bank loan of $87,000; mortgage payable $110,200 of which $8,120 is due in the next year.
8.		Shareholders Equity has 1,160 preferred shares (34,800 authorized) which were issued at an average price of $75 per share, and an unlimited number of authorized common shares with 63,800 shares issued at an average price of $1 per share, retained earnings of $120,640.

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.)

Splish Brothers Limited Statement of Financial Position For the Month Ended December 31, 2020For the Year Ended December 31, 2020December 31, 2020
Assets
Intangible AssetsTotal AssetsTotal Current LiabilitiesCurrent LiabilitiesTotal Long-Term InvestmentsTotal Current AssetsTotal Shareholders' EquityTotal Long-Term LiabilitiesTotal Intangible AssetsLong-Term LiabilitiesProperty, Plant and EquipmentTotal Property, Plant and EquipmentShareholders' EquityTotal LiabilitiesCurrent AssetsTotal Liabilities and Shareholders' EquityLong-Term Investments
						$
				$
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Total Long-Term InvestmentsTotal Current LiabilitiesTotal Property, Plant and EquipmentCurrent LiabilitiesCurrent AssetsTotal Current AssetsTotal Long-Term LiabilitiesLong-Term LiabilitiesIntangible AssetsTotal Shareholders' EquityTotal Liabilities and Shareholders' EquityLong-Term InvestmentsTotal LiabilitiesProperty, Plant and EquipmentTotal Intangible AssetsTotal AssetsShareholders' Equity
Current LiabilitiesTotal Intangible AssetsIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesTotal AssetsProperty, Plant and EquipmentShareholders' EquityTotal Shareholders' EquityTotal Property, Plant and EquipmentTotal Liabilities and Shareholders' EquityTotal Long-Term InvestmentsTotal Long-Term LiabilitiesCurrent AssetsTotal Current AssetsTotal Current LiabilitiesTotal Liabilities
Total Intangible AssetsTotal Property, Plant and EquipmentTotal Long-Term LiabilitiesTotal Current AssetsIntangible AssetsTotal Long-Term InvestmentsShareholders' EquityTotal Liabilities and Shareholders' EquityLong-Term LiabilitiesTotal Current LiabilitiesCurrent AssetsTotal Shareholders' EquityTotal AssetsTotal LiabilitiesLong-Term InvestmentsCurrent LiabilitiesProperty, Plant and Equipment
Total LiabilitiesTotal Current AssetsShareholders' EquityTotal AssetsTotal Current LiabilitiesTotal Long-Term LiabilitiesCurrent AssetsCurrent LiabilitiesTotal Shareholders' EquityTotal Intangible AssetsProperty, Plant and EquipmentTotal Property, Plant and EquipmentLong-Term LiabilitiesTotal Liabilities and Shareholders' EquityIntangible AssetsLong-Term InvestmentsTotal Long-Term Investments
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Intangible AssetsTotal AssetsTotal LiabilitiesLong-Term InvestmentsShareholders' EquityTotal Long-Term LiabilitiesProperty, Plant and EquipmentCurrent AssetsTotal Current AssetsCurrent LiabilitiesTotal Intangible AssetsTotal Property, Plant and EquipmentTotal Shareholders' EquityLong-Term LiabilitiesTotal Long-Term InvestmentsTotal Liabilities and Shareholders' EquityTotal Current Liabilities
Property, Plant and EquipmentTotal AssetsTotal Property, Plant and EquipmentLong-Term LiabilitiesCurrent LiabilitiesTotal Long-Term LiabilitiesTotal Current LiabilitiesTotal LiabilitiesTotal Liabilities and Shareholders' EquityIntangible AssetsTotal Shareholders' EquityTotal Long-Term InvestmentsTotal Intangible AssetsCurrent AssetsTotal Current AssetsShareholders' EquityLong-Term Investments
Total Property, Plant and EquipmentTotal Long-Term InvestmentsTotal Current AssetsTotal LiabilitiesProperty, Plant and EquipmentTotal Liabilities and Shareholders' EquityCurrent LiabilitiesTotal Current LiabilitiesTotal Long-Term LiabilitiesShareholders' EquityIntangible AssetsTotal Intangible AssetsTotal Shareholders' EquityLong-Term LiabilitiesLong-Term InvestmentsCurrent AssetsTotal Assets						$
Liabilities and Shareholders Equity