Included in the December $31$ trial balance of Vaughn Company are the following assets.

Prepare the current assets section of the December $31$ balance sheet. $($List Current Assets in order of liquidity.$)$

VAUGHN COMPANY

Balance Sheet $($Partial$)$

For the Year Ended December $31$

Current Assets

Cash

Accounts Receivable

Inventories

Raw Materials

$

Work$-$in$-$Process

Prepaid Insurance

$[$