Question: Cass Corp.s December 31, 2013, balance sheet reported current assets of $120,000 and current liabilities of $100,000. The current ratio increased by 25% one year

Cass Corp.’s December 31, 2013, balance sheet reported current assets of $120,000 and current liabilities of $100,000. The current ratio increased by 25% one year later, on December 31, 2014. Current liabilities on this date were $140,000. Determine current assets on December 31, 2014.

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