Cheryl Wilson, president of Rivers Company, considers $33,000 to be a minimum cash balance for operating purposes. As can be seen from the following statements, only $28,000 in cash was available at the end of 2011. Because the company reported a large net income for the year, and also issued bonds and sold some long-term investments, the sharp decline in cash is puzzling to Ms. Feldmarn. Rivers Company Comparative Balance Sheet December 31,2011, and 2010 2011 Assets Current assets: Cash Accounts Receivable Inventory Prepaid expenses $ 28,000 48,600 215,600226,900 16,100 30,600 521,400 509,900 261,700 Total current assets Long-term investments 129,000 185,000 Plant and equipment Less accumulated depreciation 886,000763,000 216,500193,900 Net plant and equipment 669,500 569,100 Total assets $1,319,900 $1,264,000