For these four financial statement problems you must use the following data, as required (not all data will be necessary):

Cash	40,000
Wages expense	97,000
Beginning Inventory	1,150,000
Ending inventory	1,330,000
Freight expense	5,000
Purchases	270,000
Accounts receivable	125,000
Sales	340,000
Accounts payable	40,000
Net fixed assets	750,000
Long-term debt	600,000
Utilities expense	15,000
Rent expense	33,000
Taxes (% of pre-tax income)	40%

b. How much are Total Assets?

Question 10 For these four financial statement problems you must use the following data, as required (not all data will be necessary): Cash Wages expense Beginning Inventory Ending inventory Freight expense Purchases Accounts receivable Sales Accounts payable Net fixed assets Long-term debt Utilities expense Rent expense Taxes (% of pre-tax income) 40,000 97,000 1,150,000 1,330,000 5,000 270,000 125,000 340,000 40,000 750,000 600,000 15,000 33,000 40% b. How much are Total Assets