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The statement of financial position of Delacosta Corporation as at December 31, 2020, is as follows:

DELACOSTA CORPORATION Statement of Financial Position December 31, 2020
Assets
Goodwill (Note 1)			$70,000
Buildings (Note 2)			1,640,000
Inventory			312,100
Investments—trading (Note 3)			100,000
Land			950,000
Accounts receivable			170,000
Investments in shares (FV-OCI) (Note 4)			87,000
Cash			175,900
Assets allocated to trustee for plant expansion
	Cash		120,000
	Treasury notes, at cost and fair value		138,000
			$3,763,000
Equities
Notes payable (Note 4)			$600,000
Common shares, unlimited authorized, 500,000 issued			730,000
Retained earnings			958,000
Accounts payable			420,000
Appreciation capital (Note 2)			570,000
Income tax payable			75,000
Reserve for depreciation of building			410,000
			$3,763,000

Note 1:	Goodwill in the amount of $70,000 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 $70,000 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 $570,000. Depreciation has been recorded based on cost.
Note 3:	Investments—trading are FV-NI (fair value through net income) investments and have a fair value of $75,000. Investments in shares (FV-OCI) have a fair value of $200,000. Both investments are currently recorded at cost.
Note 4:	Notes payable are long-term except for the current principal instalment due of $100,000.

(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.)

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