The trial balance of Novak Ltd. at December 31, 2017, follows: Credits Debits $295,000 $10,299,000 Cash Sales revenue FV-NI investments (at fair value) Cost of goods sold Bond investment at amortized cost FV-OCI investments (fair value $445,000) Notes payable (due in six months) Accounts payable Selling expenses Investment income or loss 323,000 6,400,000 429,000 378,000 99,000 585,000 2,460,000 11,000 Land 320,000 2,940,000 336,000 106,000 705,000 Buildings Commission payable Accrued liabilities Accounts receivable Accumulated depreciation-buildings Allowance for doubtful accounts Administrative expenses Interest expense Inventory Gain on sale of land Correction of prior year error 232,000 37,000 930,000 251,000 767,000 60,000 50,000 930,000 770,000 3,000,000 61,000 Notes payable (due in five years) Equipment Bonds payable (due in three years) Accumulated depreciation-equipment Intangible assets-franchises (net) Common shares Intangible assets-patents (net) Retained earnings Accumulated other comprehensive income 250,000 969,000 225,000 671,000 97,000 $ 17,493,000 Totals $17,493,000 * The investment income or loss relates to the FV-NI investments. (a) Prepare a classified statement of financial position as at December 31, 2017. Ignore income taxes. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.) Novak Ltd. Statement of Financial Position December 31, 2017 Assets Current Assets Cash FV-NI Investments Accounts Receivable Less Allowance for Doubtful Accounts Inventory Total Current Assets Long-Term Investments Bond Sinking Fund Investment FV-NI Investments Total Long-Term Liabilities Property, plant, And Equipment v Land Buildings Buildings Less Accumulated Depreciation - Buildings Equipment Less Accumulated Depreciation - Equipment i Total Property, plant, And Equipment Intangible Assets X Intangible Assets-Franchises (net) Intangible Assets-Patents (net) Total Intangible Assets Total Assets $ Liabilities and Shareholders' Equity Current Liabilities Accounts Payable Accrued Liabilities Commissions Payable Notes Payable DO illi Total Current Liabilities Long-Term Liabilities Bonds Payable Notes Payable Total Long-Term Liabilities Total Liabilities Accumulated Other Comprehensive Income II Retained Earnings Total Shareholders' Equity OD Total Liabilities And Shareholders' Equity