Question: Use the following data to determine the total dollar amount of assets to be classified as current assets. Kingbird, Inc. Balance Sheet December 31, 2022

Use the following data to determine the total dollar amount of

Use the following data to determine the total dollar amount of assets to be classified as current assets. Kingbird, Inc. Balance Sheet December 31, 2022 $200000 Accounts payable 141000 Salaries and wages payable 164000 Mortgage payable 88800 Total liabilities 269000 296000 $316000 Common stock $207000 29000 244500 Cash Accounts receivable Inventory Prepaid insurance Stock investments (long-term) Land Buildings Less: Accumulated depreciation $480500 $408300 (56500) 259500 731500 Goodwill 202000 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $1139800 Total assets $1620300 $1620300 O $505000 O $593800 O $862800 O $429800

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