Exercise 3-1 (Algo) Balance sheet; missing elements [LO3-2, 3-3, 3-8] The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents Accounts receivable (net) Inventory Property, plant, and equipment (net) Accounts payable Salaries payable Paid-in capital $ 5,700 27,000 67,000 155,000 46,000 18,000 135,000 The only asset not listed is short-term investments. The only liabilities not listed are $37,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.6:1. Required: Determine the following at December 31, 2021: 1. Total current assets 2. Short-term investments 3. Retained earnings

Exercise 3-1 (Algo) Balance sheet; missing elements [LO3-2, 3-3, 3-8] The following December 31,2021 , fiscal year-end account balance information is available for the Stonebridge Corporation: The only asset not listed is short-term investments. The only liabilities not listed are $37,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.6:1. Required: Determine the following at December 31,2021