View Policies Show Attempt History Current Attempt in Progress Selected accounts follow of Sarasota Limited at December 31, 2020: $4,000,000 Finished Goods Inventory Unearned Revenue Bank Overdraft 58,000 221,000 317,000 Equipment $ 165,000 Cost of Goods Sold 93,000 Notes Receivable 10,000 Accounts Receivable 373,000 Raw Materials Inventory 54,000 Supplies Expense 53,000 Allowance for Doubtful Accounts 51,000 Intangible Assets - Trade Names 44,000 Opntributed Surplus 74,000 Work-in-Process Inventory 23,000 Cash FV-NI Investments 36,000 18,000 Interest Payable 303.000 53,000 Common Shares Restricted Cash (for Plant Expansion) The following additional information is available: 1. Inventory is valued at the lower of cost and net realizable value using FIFO. Interest Payable Bookshell Online 44,000 Contributed Surplus Restricted Cash (for Plant Expansion) 18,000 53,000 Common Shares 303,000 The following additional information is available: 1. Inventory is valued at the lower of cost and net realizable value using FIFO. 2. Equipment is recorded at cost. Accumulated depreciation, calculated on a straight-line basis, is $65,600. 3. The FV-Nl investments have a fair value of $40,000. 4. The notes receivable are due April 30, 2021, with interest receivable every April 30. The notes bear interest at 6%. (Hint: Accrue interest due on December 31, 2020.) 5. The allowance for doubtful accounts applies to the accounts receivable. Accounts receivable of $53,000 are pledged as collateral on a bank loan. 6. Intangible Assets -Trade Names are reported net of accumulated amortization of $29,000. 7. The bank overdraft is at the same bank as the amount reported above under Cash. (a) Prepare the current assets section of Sarasota Limited's statement of financial position as at December 31, 2020. (List Current Assets in order of liquidity.) Sarasota Limited Statement of Financial Position Sarasota Limited Statement of Financial Position Current Assets $ $ > > > $ Total Current Assets e Textbook and Media