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Prepare a classified statement of financial position

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Question - These items are taken from the financial statements of Pina Colada Corp. at December 31, 2022.

Buildings $106800

Accounts receivable 11800

Prepaid insurance 4680

Cash 11840

Equipment 82000

Land 61600

Office expense 580

Income tax expense 200

Depreciation expense 5100

Interest expense 2400

Common shares 62000

Retained earnings (January 1, 2022) 40000

Accumulated depreciation--buildings 45800

Accounts payable 8400

Income taxes payable 1000

Bank loan payable (due July 1, 2024) 93800

Accumulated depreciation - equipment 18720

Interest payable 3600

Sales 13680

Required - Prepare a classified statement of financial position. Assume that $13,600 of the bank loan payable will be paid in 2023.

Reference no: EM133167198

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