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Current Attempt in Progress Swifty Corp. has decided to expand its operations. The bookkeeper recently completed the following statement of financial position in order to obtain additional funds for expansion: $ 290,000 $10,000 551,000 150,000 720.000 180.000 335,000 SWIFTY CORP Statement of Financial Position For the Year Ended December 31, 2020 Current assets Cash (net of bank overdraft of $35,000) Accounts receivable (net) Inventory at the lower of cost and net realizable value FV-Nl investments at cost-fair value $180,000) Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill Investment in bonds to collect cash flows. at amortized cost Prepaid openses Current liabilities Accounts payable Notes payable (due next year) Pension obligation Rent payable Long-term liabilities Bonds payable Shareholders' equity 90,000 97,000 22,000 225,000 295,000 101,000 59.000 634,000 Common shares, unlimited authorized, 310,000 issued 310,000 Contributed surplus Retained earnings 370,000 2 Prepare a revised statement of financial position using the available information. Assume that the bank overdraft relates to a bank account held at a different benk from the account with the cash balance. Assume that the accumulated depreciation balance for the buildings is $230,000 and that the accumulated depreciation balance for the equipment is $135,000. The allowance for doubtful accounts has a balance of $22,000. The pension obligation is considered a long-term liability. List Current Assets in order of liquidity List Property, Plant and Equipment in order of Land, Buildings and Equipment.) SWIFTY Corp Statement of Financial Position Assets $ $ Liabilities and Shareholders' Equity $ Liabilities and Shareholders' Equity

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