Answer:
Assets:
Cash 49,000
Investments 99,000
Accounts receivable 79,000
Inventories 219,000
Prepaid insurance 9,000
Land <u> 44,000 </u>
Total current 499,000
Long term-investment 49,000
Restricted cash 34,000
Land 84,000
Buildings 439,000
Acc dep—buildings (119,000)
Equipment 129,000
Acc dep—equipment (79,000)
Patents (net) <u> 29,000 </u>
Total non current 566,000
Total Assets 1,065,000
Liabilities
Accounts payable 113,000
Notes payable 131,800
Interest payable 39,000
Current 283,800
Bonds Payable 259,000
Note payable 55,200
Non current: 314,200
Total Liabilities 598,000
Equity
Common stock 357,000
Retained earnings 110,000
Total equity 467,000
Liabilities + Equity 1,065,000
Explanation:
When the asset are expected to convert into cash within 12 month are considered current else non-current.
When a liaiblity will mature within a year is considered current. Else, non-current or long-term
