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

Use the following data to determine the total dollar amount of assets to be classified as current assets.

Blossom Company Balance Sheet December 31, 2022

Cash and cash equivalents $67500 Accounts payable $129500 Accounts receivable 93000 Salaries and wages payable 12400 Inventory 144500 Bonds payable 173500 Prepaid insurance 89500 Total liabilities $315400 Stock investments 199000 Land 194500 Buildings $226500 Common stock $259100 Less: Accumulated depreciation (55000) 171500 Retained earnings 493000 Trademarks 108000 Total stockholders' equity $752100 Total assets $1067500 Total liabilities and stockholders' equity $1067500

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