Question: Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Concord Corporation Balance Sheet December

Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment.

Concord Corporation Balance Sheet December 31, 2022

Cash

 $126200

Accounts payable

 $167500

Accounts receivable

 125000

Salaries and wages payable

 25100

Inventory

 208300

Mortgage payable

 265900

Prepaid insurance

 87900

Total liabilities

 $458500

Stock Investments

 255000

Land

 290000

Buildings

 $335000

Common stock

 $362000

Less: Accumulated depreciation

 (62500) 272500

Retained earnings

 757100

Trademarks

 212700

Total stockholders' equity

 $1119100

Total assets

 $1577600

Total liabilities and stockholders' equity

 $1577600

$ 837700

$ 1030300

$ 775200

$ 562500

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