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ABC Company has the following information for the year ended December 31, 2023: Item Amount ($) Cash 1,800,000 Accounts Receivable 900,000 Inventory 850,000 Prepaid Expenses

  1. ABC Company has the following information for the year ended December 31, 2023:
ItemAmount ($)
Cash1,800,000
Accounts Receivable900,000
Inventory850,000
Prepaid Expenses440,000
Total Current Assets?
Property, Plant, Equipment5,600,000
Accumulated Depreciation2,800,000
Total Assets?

Requirements:

  1. Calculate the Total Current Assets.
  2. Calculate the Total Assets.

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