QUESTION 3

1. Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment.

   Carne Auto Supplies

   Balance Sheet

   December 31, 2022

   Cash and cash equivalents $ 70,000 Accounts payable $ 130,000

   Accounts receivable 100,000 Salaries and wages payable 20,000

   Inventory 140,000 Bonds payable 180,000

   Prepaid insurance 80,000 Total liabilities 330,000

   Stock investments 180,000

   Land 190,000

   Buildings $230,000 Common stock 240,000

   Less: Accumulated Retained earnings 500,000

   depreciation (60,000) 170,000 Total stockholders equity 740,000

   Trademarks 140,000 Total liabilities and

   Total assets $1,070,000 stockholders equity $1,070,000

   Enter the answer without a comma or dollar sign.