Question: Use the following data to determine the total dollar amount of assets to be classified as current assets. Splish Brothers Inc. Balance Sheet December 31,

Use the following data to determine the total dollar amount of assets to be classified as current assets. Splish Brothers Inc. Balance Sheet December 31, 2017 $197000 Cash $188000 Accounts payable Accounts receivable 151000 Salaries and wages payable 31000 Inventory 233000 171000 Mortgage payable Prepaid insurance Stock investments (long-term) Total liabilities 87000 $461000 264000 Land 261000 Buildings Less: Accumulated depreciation $315000 Common stock $388000 (57000) 258000 Retained earnings 748000 Trademarks Total stockholders' equity 217000 $1136000 Total liabilities and stockholders' equity Total assets $1597000 $1597000 $597000 $861000 $510000 $426000

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