Problem - The following accounts and amounts (in thousands) were taken from the 2015 financial statements of Tailwind Instruments, Inc.
|
Common shares
|
$1,932
|
Cash
|
$735
|
|
Prepaid insurance
|
644
|
Accumulated deprecation
|
2,814
|
|
Equipment
|
6,647
|
Accounts payable
|
952
|
|
Salaries payable
|
95
|
Mortgage payable (due 2025)
|
746
|
|
Merchandise Inventory
|
1,449
|
Retained earnings
|
4,596
|
|
Trading investments
|
1,047
|
Accounts receivable
|
641
|
|
Income tax payable
|
28
|
|
|
Prepare a classified statement of financial position as at December 31, 2015.