Problem $9-03$

Fill in the blanks below with the correct entries. Round your answers to the nearest dollar.

$\backslash$table$[[$Assets$,,,$Liabilities and Stockholders' Equity$],[$Current Assets,,,Current liabilities,,$],[$Cash$,$$$,220,000,$Accounts payable,$$,590,000],[$Accounts receivable,,,Notes payable to banks,,$80,000],[$less allowance,,,Accrued wages,,$],[$for doubtful accounts of $$35,000),,1,160,000,$Taxes owed,,$120,000],[$Inventory$,,1,420,000,$Total current liabilities,$$,1,220,000$