1. Sheridan Corporation has collected the following information related to its December 31, 2022, balance sheet.

Accounts receivable		$22,500		Equipment		$175,000
Accumulated depreciationequipment		47,900		Inventory		65,000
Cash		8,000		Supplies		5,600

Prepare the assets section of Sheridan Corporations balance sheet. (List Current Assets in order of liquidity.)

2. Listed below are assets and liabilities of Oriole Corporation for the years 2021 and 2022. Each is listed in alphabetical order.

Assets		2022		2021		Liabilities		2022		2021
Accounts receivable		$2,200		$2,900		Accounts payable		$4,400		$3,500
Cash		1,400		1,728		Bonds payable		31,500		26,500
Equipment (net)		46,500		52,500		Notes payable (current)		2,700		2,100
Inventory		4,200		4,700		Notes payable (long-term)		5,500		4,500
Land		24,500		24,500
Supplies		933		1,200
Total assets		$79,733		$87,528		Total liabilities		$44,100		$36,600

Oriole reported net income of $50,500 for 2022 and $44,500 for 2021.

(a)

Compute total current assets and total current liabilities for each year.

		2022		2021
Total current assets		$enter total current assets in dollars		$enter total current assets in dollars
Total current liabilities		$enter total current liabilities in dollars		$enter total current liabilities in dollars