The trial balance of SeastarInc. and other related information for the year 2020follows:SEASTARINC.Trial BalanceDecember 31, 2020DebitsCreditsCash$52,000Accounts receivable165,500Allowance for doubtful accounts$9,500Prepaid insurance6,800Inventory193,600FV-OCI Investments339,000Land86,000Construction in progress124,000Intangible assetspatents36,000Equipment400,000Accumulated depreciationequipment240,000Accounts payable137,200Accrued liabilities49,200Notes payable94,000Bonds payable180,000Common shares500,000Accumulated other comprehensive income45,000Retained earnings138,000$1,402,900$1,402,900Additional information:

1.The inventory has a net realizable value of $212,000. The FIFO method of inventory valuation is used.

2.The fair valueOCI investments fair value is $368,000

.3.The amount of the Construction in Process account represents the costs to date on a building in the process of construction. (The company is renting factory space while waiting for the new building to be completed.) The land that the building is being constructed on cost $86,000, as shown in the trial balance.

4.The company purchased the patents at a cost of $40,000 and the patents are being amortized on a straight-line basis.

5.The bonds payable have a face value of $200,000, bear interest at 7% payable every December 31, and are due January 1, 2032.

6.Of the remaining $20,000 unamortized discount on bonds payable (face value $200,000 less carrying amount $180,000), $2,000 will be amortizedin 2021.

7.The notes payable represent bank loans that are secured by fair valueOCI investments carried at $120,000. These bank loans are due in 2021.

8.For common shares, an unlimited number are authorized and 500,000 are issued and outstanding.Instructions:Prepare a statement of financial position as at December 31, 2020, ensuring that all important information is fully disclosed