Business, 06.03.2021 03:00 dele53

The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents $6,900
Accounts receivable (net) 39,000
Inventory 79,000
Property, plant, and equipment (net) 215,000
Accounts payable 58,000
Salaries payable 19,000
Paid-in capital 195,000

The only asset not listed is short-term investments. The only liabilities not listed are $49,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.7:1.

Required:
Determine the following at December 31, 2021:

1. Total current assets
2. Short-term investments
3. Retained earnings

Answers: 1

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The following December 31, 2021, fiscal year-end account balance information is available for the St...

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