Balance sheet; missing elements
The following December 31, 2016, fiscal year-end account balance information is available for the Stonebridge Corporation:
|
Cash and cash equivalents
|
$ 5000
|
|
Accounts receivable (net)
|
20,000
|
|
Inventories
|
60,000
|
|
Property, plant, and equipment (net)
|
120,000
|
|
Accounts payable
|
44,000
|
|
Wages payable
|
15,000
|
|
Paid-in-capital
|
100,000
|
The only asset not listed is short-term investments. The only liabilities not listed are a $30,000 note 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, 2016:
1. Total current assets
2. Short-term investments
3. Retained earnings .