(ADOPTED)Silver Gym provides personal training and weight reduction program to its members and guests alike. After closing the temporary accounts, the following selected account balances appear on its ledger:

Accounts receivable	Php 50,000
Accounts payable	40,000
Cash	?
Accumulated depreciation	80,000
Equipment	200,000
Land	400,000
Long-term debt	300,000
Prepaid insurance	12,000
Prepaid rent	18,000
Salaries payable	10,000
Edgar Samson, Capital	340,000
Unearned revenue	20,000

REQUIRED:

1. Determine the correct Cash balance.
2. Prepare a balance sheet where assets and liabilities are properly classified as current and non-current.