Question: Use the following data to determine the total dollar amount of assets to be classified as current assets. Ace Supply Company Balance Sheet December

to be classified as current assets. Ace Supply Company Balance Sheet December

Use the following data to determine the total dollar amount of assets to be classified as current assets. Ace Supply Company Balance Sheet December 31, 2025 Cash $130000 Accounts payable $173500 Accounts receivable 120600 Salaries and wages payable 32400 Inventory 207900 Note payable (due 2028) 269900 Short-term investments 88300 Total liabilities 475800 Land (held for future use) 259500 Land 288000 Buildings $335500 Common stock 358500 Less: Accumulated depreciation (59300) 276200 Retained earnings 737800 Franchise 201600 Total stockholders' equity 1096300 +3670300

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