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These items are taken from the financial statements of Carla Vista Ltd. at December 31, 2018: Accounts payable $22,050 Interest expense $5,300 Accounts receivable 18,780 Interest payable 3,800 Accumulated depreciation—buildings 53,600 Land 185,970 Accumulated depreciation—equipment 20,470 Long-term investments 30,970 Service revenue 187,040 Mortgage payable 102,000 Buildings 137,800 Operating expenses 159,680 Cash 28,040 Prepaid insurance 1,400 Common shares 138,000 Retained earnings, January 1 118,520 Equipment 70,100 Supplies 1,840 Income tax expense 5,600

at $32,500 of the mortgage payable will be paid in 2019. (List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Land, Buildings, and Equipment.) hat $32.500 in order will be pai statement of financial position. Assume th CARLA VISTA LTD Statement of Financial Position Prepare a AssetsLiabilities and Shareholders Equity

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tatement of financial position December 31, 2017 Assets Current Assets Cash Accounts ReceMable supplies Prepaid Insurance Total Current Assets Long term investment Property, Plant and Equipment Land Buildin Less :Accumulated Depreciation-Buildi Equipment Less :Accumulated Depreciation-Equipment 20470 49630 Total P Total Assets 28040 18780 1840 workin Income statement Service revenue Expense: 50060 30970 187040 185970 159680 5300 137800 rating expenses 3600 84200 70100 Interest ex income tax expense Total expense Net income 170580 Plant and E 319800 16460 400830 statment of ret ained earni Retained earnings at Jan 1 118520 Add Net income Retained earnings at Dec 31 134980 Current Liabilities Notes Payable Accounts Payable Interest Pavable Total Current Liabilities Long-Term Liabilities Notes Payable-102000-32500 Total Liabilities 32500 22050 3800 58350 127850 Stockholders Equit Common Stock Retained Earnings* Total Stockholders Equity 138000 272980 Total Liabilities and Stockholders Equit 400830

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