Kwan’s boss has asked him to evaluate his current assets on his balance sheet.

However, Kwan is not exactly sure what his current assets are. Help Kwan by examining his balance sheet accounts and answering the following questions.

Balance Sheet Accounts Investments 3/3;206 Paid in Capital 486,486 Other Current Liabilities 73,954 Accumulated Depreciation 203,144 Building 627,998 Inventories 51,818 Accounts Payable 213,659 Common Stock 133,421 Long-Term Debt 395,315 Prepaid Expenses 15,000 Cash 85,976 Retained Earnings 477,500 Furnishings and Equipment 308,334 Land 309,080 Notes Payable 47,858 Net Receivables 40,000 Marketable Securities 196,154 Other Assets PRS} VOR Using the balance sheet accounts:

a. Identify the current assets.

b. List them in the order of liquidity.

c. Calculate Total Current Assets.

d. Explain to Kwan why each current asset is listed in its particular order of liquidity.

Current Asset Accounts (In Order) Dollar Amounts