Current Assets Current liabilities

Cash $ $200,000$ Accounts payable $ $570,000$

Accounts receivable Notes payable to banks $130,000$

$($$

less allowance for Accrued wages

$$ doubtful accounts of $$35,000)1,330,000$ Taxes owed $180,000$

Inventory $1,450,000$ Total current liabilities $ $1,230,000$

Total current assets $

Long$-$term debt

Land

Stockholders$$ equity

Plant and equipment Common stock

$($$$2,180,000$ less $($$$1$ par, $660,000$

$$ accumulated depreciation $$ shares authorized,

$$ $

$)1,210,000620,000$ outstanding$)$

Total assets $ $4,600,000$ Retained earnings

Total stockholders$$ equity $ $2,710,000$

Total liabilities and equity $