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Exercise 5-11 Concord Corp.'s statement of financial position at the end of 2019 included the following items: Current assets $1,305,000 Current liabilities $1,337,100 Land 30,300 Bonds payable 1,141,000 Buildings 1,310,000 Common shares 183,000 Equipment 325,000 Retained earnings Accumulated depreciation-buildings 194,000 (144,000) Accumulated depreciation-equipment (12,500) Intangible assets-patents 41,300 Total $2,855 100 Total $2,855,100 The following information is available for the 2020 fiscal year: 1. Net income was $397,000. 2. Equipment (cost of $20,800 and accumulated depreciation of $8,170) was sold for $11,100. 3. Depreciation expense was $4,200 on the building and $9,020 on equipment. 4. Amortization expense on a patent was $3,120. 5. Current assets other than cash increased by $25,000. Current liabilities increased by $14,000. 6. An addition to a building was completed at a cost of $31,900. 7. An FV-OCI investment in shares was purchased for $20,900 on the last day of the year. This was the first such investment made by Concord in its histor 8. Bonds payable of $77,000 were issued at par. 9. Cash dividends of $183,000 were declared and paid. Dividends paid are treated as financing activities. Concord prepares financial statements in accordance with IFRS. Prepare a statement of financial position (SFP) as at December 31, 2020. (Hint: You will need to adjust plug") the December 31, 2020 amount of current ass Plant and Equipment in order of Land, Buildings and Equipment.) Concord Corporation Statement of Financial Position For the Month Ended December 31, 2020 Assets Rieso, Intermediate Accounting, 12CE Volume 1 Help System Announcements Liabilities and Shareholders' Equity SHOW LIST OF ACCOUNTS earch JS Keso Intermediate Accounting, 12 Volume 1 Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. (Show amounts that decrease cash flow with either a sign ..-1 (15,000).) Concord Corporation Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income / (Loss) Adjustments to reconcile net income to net cash provided by operating activities: o search BE G LUU Viti/main uni Assignment -PLUS Kiese, Intermediate Accounting, 120 Volume 1 SOURCES up to By Study V SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Question Attempts: 0 of 3 uses here to search O

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