. Baughman Corporation Co.'s trial balance included the following account balances at December 31, 2016:

Accounts receivable	$12,000
Inventories	40,000
Patent	12,000
Investments	30,000
Prepaid insurance	6,000
Note receivable, due 2019	50,000

Investments consist of treasury bills that were purchased in November and mature in January. Prepaid insurance is for the next two years. What amount should be included in the current asset section of Baughmans December 31, 2016, balance sheet?

$______________

For the items you excluded, why did you do so?