Classified Balance Sheet - four (4) questions

Instructions: Please prepare a Classified Balance Sheet on your scratch paper based on the following Partial Adjusted Trial Balance. Use this Classified Balance Sheet to answer this question and the next three (3) questions. You will need to know the 1.) Total Current Assets, 2.) Total Long-term Assets, 3.) Total Current Liabilities, and 4.) Total Stockholders' Equity to answer these four (4) questions.

Question: Based on the Partial Trial Balance and Additional Info shown below, what is the amount of the Total Current Assets shown on the Classified Balance Sheet you prepared on your scratch paper?

Adjusted Trial Balance
December 31, 20xx
Accounts	Debit	Credit
Cash	$25,181
Accounts Receivable	100,531
Inventory	40,000
Prepaid Rent	14,144
Equipment	25,000
Building	125,000
Accumulated Depreciation		$ 50,000
Accounts Payable		25,181
Deferred Revenue		30,531
Current Portion Long-term Debt		5,000
Long-term Debt		50,144
Bonds Payable		50,000
Common Stock		25,000
Treasury Stock	0
Retained Earnings		25,000
Dividends	10,000
Revenue		200,181
Cost of Goods Sold	75,181
Salaries Expense	9,000
Rent Expense	15,000
Utilities Expense	10,000
Depreciation Expense	5,000
Interest Expense	1,000
Income Tax Expense	6,000

Additional Information:

Net Income After-taxes for the Accounting Period equaled $79,000

Beginning Balance of Common Stock on 1/1/20xx $25,000 Beginning Balance of Retained Earnings on 1/1/20xx $25,000 No new stock was issued during the accounting period.