Brief Exercise 3-7 (Algo) Balance sheet preparation; missing elements (LO3-2, 3-3) Use the following information from the balance sheet of Raineer Plumbing to determine the missing amounts. Cash and cash equivalents Retained earnings Inventory Common stock Total current assets $ 46,000 ? 2 160,000 265,000 Accounts payable Accounts receivable Notes payable (due in 2 years) Property, plant and equipment (net) Total assets $ 38,000 126,000 56,000 2 460,000 YOS Inventory Property, plant, and equipment (net) Retained earnings Brief Exercise 3-11 (Algo) Calculating ratios; solving for unknowns (LO3-8) The current asset section of Stibbe Pharmaceutical Company's balance sheet included cash of $39,000 and accounts receivable of $59,000. The only other current asset is inventory. The company's current ratio is 3.0 and its acid-test ratio is 2.5. Determine the ending balance in inventory and total current liabilities. Inventory Current liabilities