Answer:
$45,600
Explanation:
The total assets comprises of current assets, fixed assets and the intangible assets
The current assets includes cash, stock, account receivable, etc
Fixed assets include plant & machinery, land, equipment, furniture & fittings, etc.
And, the intangible assets include patents, copyrights, goodwill, etc.
The computation of the current asset is shown below:
= Cash + Accounts receivable + Prepaid insurance
= $23,000 + $16,000 + $6,600
= $45,600
