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Prepare a statement of financial position. Assume that $23,120 of the bank loan payable will...

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Accounting

Prepare a statement of financial position. Assume that $23,120 of the bank loan payable will be paid in 2019.

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These items are taken from the financial statements of Swifty Corp. at December 31, 2018. Buildings Accounts receivable Prepaid insurance Cash Equipment Land $179,860 21,420 7,956 20,128 140,080 104,040 986 Office expense 340 Income tax expense Depreciation expense Interest expense 9,010 4,420 105,400 Common shares 68,000 Retained earnings (January 1, 2018) Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) Accumulated depreciation-equipment Interest payable Sales 77,520 14,280 1,870 159,120 31,824 6,120 24,106

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