Answer:
A)$570,000
Explanation:
Balance Sheet 2014
Cash $130,000
Accounts Receivable $100,000
Prepaid Insurances $60,000
Stock Investments $170,000
Inventory $110,000
TOTAL CURRENT ASSETS $570,000
Building $210,000
Depreciation -$40,000
Intangible Assets $140,000
Land $180,000
TOTAL ASSETS $1,060,000
Accounts Payable $140,000
Wages Payable $20,000
Mortgage Payable $160,000
TOTAL LIABILITIES $320,000
Common Stock $240,000
Retained Earnings $500,000
TOTAL EQUITY $740,000
TOTAL EQUITY + LIABILITIES $1,060,000
