3. The balance sheet for Shears Salon is as follows. Compute (a) total current assets and...

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3. The balance sheet for Shears Salon is as follows. Compute (a) total current assets and (b) total property, plant and equipment. (7 points). Shears Salon Balance Sheet December 31, 2022 Cash $ 26,000 Accounts payable $ 3,000. Accounts receivable 20,000 Salaries and wages payable. 2,000 Inventory 10,000 Note payable (due 2025) 170,000 Supplies 1,000 Total liabilities 175,000 Prepaid insurance. 2,000 Land: 25,000 Buildings $239,000 Common stock 35,000 Less: Accumulated Retained earnings 15,000 depreciation (100,000) Total stockholders' equity 50,000 Trademark 2,000 Total liabilities and Total assets $225,000 stockholders' equity $225,000 3. The balance sheet for Shears Salon is as follows. Compute (a) total current assets and (b) total property, plant and equipment. (7 points). Shears Salon Balance Sheet December 31, 2022 Cash $ 26,000 Accounts payable $ 3,000. Accounts receivable 20,000 Salaries and wages payable. 2,000 Inventory 10,000 Note payable (due 2025) 170,000 Supplies 1,000 Total liabilities 175,000 Prepaid insurance. 2,000 Land: 25,000 Buildings $239,000 Common stock 35,000 Less: Accumulated Retained earnings 15,000 depreciation (100,000) Total stockholders' equity 50,000 Trademark 2,000 Total liabilities and Total assets $225,000 stockholders' equity $225,000