Question: Use the following data to determine the total dollar amount of assets to be classified as current assets. Cash Accounts receivable Inventory Prepaid insurance

Use the following data to determine the total dollar amount of assets

Use the following data to determine the total dollar amount of assets to be classified as current assets. Cash Accounts receivable Inventory Prepaid insurance Stock investments (Long-term) Land Buildings $317000 Less: Accumulated depreciation (56500) Goodwill Total assets Crane Company Balance Sheet December 31, 2025 $200000 143000 160000 88000 254000 267000 260500 201000 $1573500 Accounts payable Salaries and wages payable Mortgage payable Total liabilities $197000 32000 229000 458000 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $1573500 384000 731500 1115500

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