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Thestatement of financial position of Concord Corporation as at December 31,2023 , is as follows:...

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Thestatement of financial position of Concord Corporation as at December 31,2023 , is as follows: Note 1: Goodwill in the amount of $49,000 was recognized because thecompany believed that thecarrying amount of assets was not an accurate representation of thecompany's fair value The gain of $49,000 wascredited to / Cetained Earnings: Note 2: Buildings arestated at cost except for one building that was recorded at its appraised value becausemanagement determined the building to be worth more than originally paid at acquisition. The excess of the appraisal value over cost was $399,000. Depreciation has been recorded based oncost Note 3: Investments-trading are FV-NI investments and havea fair value of $52,500. Investments in shares (FV-OCI) have a fair value of $140,000. Both investments arecurrently recorded at cost Note 4: Notes payable arelong term except for the curcent principal instalment due of $70,000. (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. AistCurreat Assets inorder of liquivity. List Property, Aynby siappoysue s pue sor Huqe]

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