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 Stock
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 Less: Accumulated depreciation Splish Brothers Inc. Balance Sheet December 31, 2022 $186000 Accounts payable $210000 152000 Salaries and wages payable 28500 165000 Mortgage payable 249500 86600 Total liabilities $488000 258000 300000 $304000 Common stock $378100 (61500) 242500 Retained earnings 746000 Total stockholders' 222000 $1124100 equity Total liabilities and $1612100 $1612100 stockholders' equity Goodwill Total assets
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