Question: Use the following data to determine the total dollar amount of assets to be classified as investments. Sheridan Company Balance Sheet December 31, 2017 $197000

Use the following data to determine the total dollar amount of assets to be classified as investments. Sheridan Company Balance Sheet December 31, 2017 $197000 Accounts payable 145000 Salaries and wages payable 153000 Mortgage payable 87100 Total liabilities 255000 281000 $300000 Common stock Cash Accounts receivable Inventory Prepaid insurance Stock Investments Land Buildings Less: Accumulated depreciation $195000 29500 238500 $463000 $372600 (64500) 235500 Retained earnings 738000 Trademarks 220000 $1110600 Total stockholders' equity Total liabilities and stockholders' equity Total assets $1573600 $1573600

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