Trial Balance December 31, 2020 Debits Credits Cash $44,000 Accounts receivable 169,500 Allowance for doubtful accounts $9,600 Prepaid insurance 6,000 Inventory 193,400 FV-OCI Investments 339,000 Land 91,000 Construction in process 124,000 Intangible assets-patents 36,000 Equipment 400,000 Accumulated depreciation-equipment 240,000 Accounts payable 147,100 Income tax payable 49,200 94,000 Notes payable Bonds payable 180,000 Common shares 500,000 Accumulated other comprehensive income 45,000 Retained earnings 138,000 $1,402,900 $1,402,900 Additional information: 1. The inventory has a net realizable value of $212,000. The FIFO method of inventory valuation is used. 2. The FV-OCI investments' fair value is $378,000. 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 $91.000, 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. Of the remaining $20,000 unamortized discount on bonds payable (face value $200,000 less carrying amount $180,000), 6. $2,000 will be amortized in 2021. The notes payable represent bank loans that are secured by FV-OCl investments carried at $120,000. These loans are due in 7. 2021. 8. For common shares, an unlimited number are authorized and 500,000 are issued and outstanding. (a) Prepare a statement of financial position as at December 31, 2020, ensuring that all important information is fully disclosed. (List