Answer:
2020 Balance Sheet
$9,680 Cash
$97,740 Accounts Receivable
-$5,700 Less: Allowance for Doubtful Accounts
$37,000 Inventory
$14,360 Equity Investment
$6,110 Prepaid Insurance
$159,190 TOTAL CURRENT ASSETS
Explanation:
Account of Current Assets , the criteria is to have a liquidity speed less than one year, which means it's possible to get cash from these accounts before a year period.
The accounts not considered here are Land, Patents because these accounts belong to non current assets, because of the liquidity period of monre than one year.
The Allowance for Doubtful Accounts it's a contra asset account which means that it's an asset account but with a negative impact in the total value, because this account deduct of account receivable.
The equity investment are considerer here because it's expected to be sold in the next year.
