Solution :
Current Assets
Cash $ 20,000
Accounts receivable $ 1,30,000
Less: Allowance for uncollectible accounts - $ 13,000
Note receivable $ 100,000
Interest receivable $ 3,000
Marketable securities $ 32,000
Raw materials $ 24,000
Work in process $ 42,000
Finished goods $ 89,000
Prepaid Rent(Half of $ 60,000) <u> $ 30,000 </u>
Total current assets $ 4,57,000
Current Liabilities
Deferred revenue ($36,000/2) $ 18,000
Accounts payable $ 1,80,000
Interest payable <u> $ 5000 </u>
Total current liabilities $ 2,03,000
Working capital (4,57,000 - 2,03,000) $ 2,54,000
