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

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

Pretty Pet Supplies

Balance Sheet

December 31, 2022

Cash$126,000Accounts payable$165,000

Accounts receivable120,000Salaries and wages payable30,000

Inventory210,000Note payable (due 2025)270,000

Short-term investments90,000Total liabilities465,000

Land (held for future use)255,000

Land285,000

Buildings$339,000Common stock360,000

Less: AccumulatedRetained earnings750,000

depreciation(60,000)279,000Total stockholders' equity1,110,000

Franchise210,000Total liabilities and

Total assets$1,050,000stockholders' equity$1,575,000

a.$801,000

b.$336,000

c.$546,000

d.$546,000

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