Dl2T-b8 Company reported the following account balances at December 31, 2029: Cost of goods sold ................ $39,000
Question:
Dl2T-b8 Company reported the following account balances at December 31, 2029:
Cost of goods sold ................ $39,000
Salaries payable .................. $16,000
Accumulated depreciation .......... $23,000
Cash .............................. $19,000
Inventory ......................... $61,000
Accounts payable .................. $36,000
Common stock ...................... ?
Accounts receivable ............... $41,000
Retained earnings ................. $55,000 (at January 1, 2029)
Salaries expense .................. $28,000
Land .............................. ?
Interest revenue .................. $59,000
Supplies .......................... $17,000
Notes payable ..................... $48,000 (due March 1, 2031)
Patent ............................ $32,000
Sales revenue ..................... $93,000
Dividends ......................... ?
Equipment ......................... $56,000
Income tax expense ................ $25,000
Additional information: 1) Dividends declared by Dl2T-b8 Company during 2029 equaled 35% of the net income for 2029.
2) Total equity at December 31, 2029 is equal to 350% of the total current liabilities at December 31, 2029.
Calculate the amount of total current assets reported in Dl2T-b8 Company's balance sheet at December 31, 2029.