The following data, presented in alphabetical order, are taken from the records of Radar Industries Ltd.
Accounts payable.............................................................................€ 240,000
Accounts receivable............................................................................140,000
Accumulated depreciation-buildings......................................................180,000
Accumulated depreciation-equipment......................................................52,000
Allowance for doubtful accounts...............................................................6,000
Bonds payable (10%, due 2023) ............................................................540,000
Buildings........................................................................................950,000
Cash................................................................................................42,000
Dividends payable...............................................................................80,000
Equipment.......................................................................................275,000
Fair value adjustment-non-trading securities (Dr) ..........................................8,000
Goodwill..........................................................................................200,000
Income taxes payable...........................................................................120,000
Inventory..........................................................................................170,000
Investment in Mara ordinary shares (30% ownership), at equity.........................380,000
Investment in Sasse ordinary shares (10% ownership), at cost...........................278,000
Land...............................................................................................390,000
Notes payable (due 2018) .......................................................................70,000
Prepaid insurance.................................................................................16,000
Retained earnings................................................................................103,000
Share capital-ordinary (€10 par value; 500,000 shares authorized,
150,000 shares issued) .......................................................................1,500,000
Share premium-ordinary.......................................................................130,000
Short-term investments, at fair value (and cost) ............................................180,000
Unrealized gain-non-trading securities.........................................................8,000
The investment in Sasse ordinary shares is considered to be a long-term non-trading security.
Instructions
Prepare a classified statement of financial position at December 31, 2017.