Question $7(10$ points$)$

Given the following information, compute the total assets of the firm:

Accumulated depreciation $$180,000$

Retained earnings $135,000$

Cash$40,000$

Bonds payable $142,000$

Accounts receivable $38,000$

Plant and equipment$-$original cost $720,000$

Accounts payable $35,000$

Allowance for bad debts $6,000$

Common stock $($$$1$ par, $150,000$ shares outstanding$)150,000$

Inventory $66,000$

Preferred stock $($ $$50$ par, $1,000$ shares outstanding$)50,000$

Marketable securitics $15,000$

Investments $20,000$

Notes payable $83,000$

Capital paid in excess of par $($common stock$)118,000$