this question has 3 parts to it amd plz answer quick thank you

The following Statement of Financial Position (also known as the "Balance Sheet") was prepared by a junior

bookkeeper at Spring Corporation, a publicly traded company which follows International Financial Reporting

Standards (IFRS):

part 1. Based on the information provided, prepare what should have been shown in the current assets and current liabilities section of the Statement of Financial Position (Balance Sheet).

(Note: Preparation of a full financial statement is NOT required)

Part 2. How does classification of the bank overdraft impact working capital (in dollars $) and the current

ratio?

Briefly discuss the ethical issues surrounding the presentation of a bank overdraft assuming the Bank Loan Payable carries with it a debt covenant to maintain a working capital ratio of at least 2.0 or higher.Recall that..

Working capital ($) = Current Assets - Current Liabilities

Current Ratio = Current Assets/ Current Liabilities

Part 3. Identify FOUR other deficiencies in the financial statement prepared by the junior bookkeeper. What is wrong and how should the deficiency be fixed?

Note:

- Do NOT discuss Issues within current assets & current Mabides as this has already been examined in the first part of the

question.Please think critically & identify information that would be "useful" for decision-making.

No marks will be awarded for saying there is a lack of headings, subtotals, or totals.

Spring Corporation Statement of Financial Position At December 21/2021 $ 340,000 30,000 135,000 ASSETS Cash (net of bank overdraft of $200,000) (Note 1) Accounts receivable (net of $15,000 allowance for doubtful accounts) Inventory, at the lower of cost and net realizable value Land, buildings and equipment (Note 2) Less: Reserve for depreciation Prepaid assets Investment in shares (Note 3) TOTAL ASSETS 800,000 (200,000) 600,000 25,000 60,000 1,240,000 LIABILITIES AND EQUITY Accounts Payable Salaries & Wages Payable Bank Loan Payable (Note 4) 150,000 75,000 460,000 685,000 Common Shares (Note 5) Preferred Shares (Note 5) Retained Earnings Other Comprehensive Income 140,000 10,000 310,000 95,000 555,000 TOTAL LIABILITIES AND EQUITY 1,240,000 Spring Corporation Statement of Financial Position At December 21/2021 $ 340,000 30,000 135,000 ASSETS Cash (net of bank overdraft of $200,000) (Note 1) Accounts receivable (net of $15,000 allowance for doubtful accounts) Inventory, at the lower of cost and net realizable value Land, buildings and equipment (Note 2) Less: Reserve for depreciation Prepaid assets Investment in shares (Note 3) TOTAL ASSETS 800,000 (200,000) 600,000 25,000 60,000 1,240,000 LIABILITIES AND EQUITY Accounts Payable Salaries & Wages Payable Bank Loan Payable (Note 4) 150,000 75,000 460,000 685,000 Common Shares (Note 5) Preferred Shares (Note 5) Retained Earnings Other Comprehensive Income 140,000 10,000 310,000 95,000 555,000 TOTAL LIABILITIES AND EQUITY 1,240,000