Current Attempt in Progress The statement of financial position of Sarasota Corporation follows for the current year, 2023: The following additional information is available: 1. The current assets section includes the following: cash $153,000; account receivable $173,400, less $10,200 allowance for expected credit losses; inventory $183,600; and unearned revenue $5,100. The cash balance is composed of $193,800, less a bank overdraft of $40,800 (at a separate financial institution). Inventory is stated at the lower of FIFO cost and net realizable value. 2. The investments section includes the following: note receivable from a related company, due in 2029,$40,800; FV-NI investments in shares $81,600 (fair value $81,600 ); FV-OCI investments in shares $127,500 (fair value $158,100 ); bond sinking fund $255,000; and patents $117,300, net of accumulated amortization. 3. Property, plant, and equipment include buildings $1,060,800, less accumulated depreciation $367,200; equipment $459,000, less accumulated depreciation $183,600; land $510,000; and land held for future use $275,400. 4. Intangible assets include franchise, net of accumulated amortization, $270,300. 5. Current liabilities include the following: accounts payable $142,800; notes payable, short-term $81,600, long-term $122,400; and income tax payable $40,800. 6. Long-term liabilities are composed solely of 7% bonds payable issued at a discount, due in 2031. 7. Shareholders' equity has 70,000 preferred shares ( 200,000 authorized), which were issued for $459,000, and 102,000 common shares (unlimited number authorized), which were issued at an average price of $10 per share. In addition, the corporation has retained earnings of $295,800 and accumulated other comprehensive income of $30,600. ( )