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Problem 4. Statement of Financial Position (24 marks) Presented below are a number of statement of financial position items for Dassy Corporation for the current year of 2020 Copyrights $125,000 Accumulated depreciation S292.000 equipment Payroll taxes payable 177 591 Inventory 239.800 Bonds payable 285.000 Rent payable (short-term) 45.000 Cash (unrestricted) 360.000 Uneamed sales revenue 98.362 Land 480,000 Long term rental obligations 480,000 Notes receivable 260,700 Share capital - ordinary, Si par 200,000 value Notes payable (to banks) 265,000 Share capital - preference, S10 150,000 par value Accounts payable 490.000 Prepaid expenses 87920 Retained earnings 2 Equipment $70,000 Income taxes receivable 97 630 Investment in trading securities 121 000 Pension liabilities 1,600,000 Accumulated depreciation - 270,200 buildings Investment in non-trading 600,000 Buildings 1,040,000 cquity securities Allowance for doubtful 45.000 Accounts recevable 230,000 accounts Cash restricted for future plant 140,000 Land held for future plant 460,000 expansion expansion Instructions: Prepare a classified statement of financial position in report form as of December 31, 2020. Share capital - ordinary shares authorized was 400,000 shares and share capital preference shares authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of trading and non-trading securities are the same. There is no amount to bs matured next year for the bonds payable -END

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