The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents $ 5,000Accounts receivable (net) 20,000Inventory 60,000Property, plant, and equipment (net) 120,000Accounts payable 44,000Salaries payable 15,000Paid-in capital 100,000 The only asset not listed is short-term investments. The only liabilities not listed are $30,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.5:1.Required:Determine the following at December 31, 2021:1. Total current assets2. Short-term investments3. Retained earnings
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation:
Cash and cash equivalents $ 5,000
Accounts receivable (net) 20,000
Inventory 60,000
Property, plant, and equipment (net) 120,000
Accounts payable 44,000
Salaries payable 15,000
Paid-in capital 100,000
The only asset not listed is short-term investments. The only liabilities not listed are $30,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The
Required:
Determine the following at December 31, 2021:
1. Total current assets
2. Short-term investments
3.
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