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The statement of financial position of Bramble Corporation as at December 31, 2017, is as follows:

Note 1:Goodwill in the amount of $42,000 was recognized because the company believed that the carrying amount of assets was not an accurate representation of the company's fair value. The gain of $42,000 was credited to Retained Earnings.

Note 2:Buildings are stated at cost, except for one building that was recorded at its appraised value as management determined the building to be worth more than originally paid at acquisition. The excess of the appraisal value over cost was $342,000. Depreciation has been recorded based on cost.

Note 3:Investmentstrading are fair value through net income investments and have a fair value of $45,000. Investments in shares (fair value through OCI) have a fair value of $120,000. Both investments are currently recorded at cost.

Note 4:Notes payable are long-term except for the current instalment due of $60,000.

(a) Prepare a corrected classified statement of financial position in good form. The notes above are for information only. Assume that you have decided not to use the revaluation model for property, plant, and equipment. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.)

BRAMBLE CORPORATION Statement of Financial Position December 31, 2017 Assets Goodwill (Note 1) Buildings (Note 2) Inventory Investments-trading (Note 3) Land Accounts receivable Investments in shares (fair value through OCI) (Note 3) Cash Assets allocated to trustee for plant expansion Cash Treasury notes, at cost and fair value $42,000 984,000 187,260 60,000 570,000 102,000 52,200 105,540 72,000 82,800 $2,257,800 Equities Notes payable (Note 4) Common shares, unlimited authorized, 500,000 issued Retained earnings Accounts payable Appreciation capital (Note 2) Income tax payable Reserve for depreciation of building $360,000 438,000 574,800 252,000 342,000 45,000 246,000 $2,257,800 BRAMBLE CORPORATION Statement of Financial Position December 31, 2017 Assets Current Assets Cash

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