Question: Use the following data to determine the total dollar amount of assets to be classified as investments. Pretty Pet Supplies Balance Sheet December 31, 2022

Use the following data to determine the total dollar amount of assets to be classified as investments.

Pretty Pet Supplies

Balance Sheet

December 31, 2022

Cash $ 126,000 Accounts payable $ 165,000

Accounts receivable 120,000 Salaries and wages payable 30,000

Inventory 210,000 Note payable (due 2025) 270,000

Short-term investments 90,000 Total liabilities 465,000

Land (held for future use) 255,000

Land 285,000

Buildings $339,000 Common stock 360,000

Less: Accumulated Retained earnings 750,000

depreciation (60,000) 279,000 Total stockholders equity 1,110,000

Franchise 210,000 Total liabilities and

Total assets $1,575,000 stockholders equity $1,575,000

a. $0

b. $465,000

c. $255,000

d. $585,000

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