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15) The following information is for Central Avenue Real Estate: Central Avenue Real Estate Balance Sheet December 31, 2018 Accounts Payable Salaries and Wages Payable

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15) The following information is for Central Avenue Real Estate: Central Avenue Real Estate Balance Sheet December 31, 2018 Accounts Payable Salaries and Wages Payable Mortgage Payable Total Liabilities $ 60,000 25,000 85,000 170,000 Cash $ 25,000 Prepaid Insurance 40,000 Accounts Receivable 50,000 Inventory 80,000 Land Held for Investment 75,000 Land 120,000 Building $110,000 Less Accumulated Depreciation (20,000) 90,000 Trademark 1 70,000 Total Assets $550.000 Owner's Capital 380,000 Total Liabilities and Owner's Equity $550,000 The total dollar amount of assets to be classified as property, plant, and equipment is a. $210,000 b. $230,000. c. $285,000. d. $315,000

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