Question: Shelley and Co. has the following balance sheet elements as of December 31, 2012. Required: Compute the total amount of: 1. Current assets. 2. Long-term

Shelley and Co. has the following balance sheet elements as of December 31, 2012.

Required:
Compute the total amount of:
1. Current assets.
2. Long-term assets.
3. Current liabilities.
4. Long-term liabilities.
5. Stockholders€™equity.

S365,000 300,000 330,000 Retained earnings.218,000 81,000 154,000 $247,000 Mortgage payable Land Cash Building... Accounts payable.. . Notes payable (short-term) .. Equipment .. ? Capital stock 159,000 Inventory 282,000

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