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Exercise 3-1 (Algo) Balance sheet; missing elements [LO3-2, 3-3] The following December 31, 2024, fiscal year-end account balance information is available for the Stonebridge
Exercise 3-1 (Algo) Balance sheet; missing elements [LO3-2, 3-3] The following December 31, 2024, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents Accounts receivable (net) Inventory Property, plant, and equipment (net): Accounts payable Salaries payable Paid-in capital $ 6,900 39,000 79,000 215,000 58,000 19,000 195,000 The only asset not listed is short-term investments. The only liabilities not listed are $49,000 notes payable due in two years and related accrued interest payable of $1,000 due in four months. The current ratio at year-end is 1.7:1. Required: Determine the following at December 31, 2024: 1. Total current assets 2. Short-term investments 3. Retained earnings
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