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

Cash $199,500 Work in process $210,000

Equipment (net) 1,155,000 Accounts Receivables (net) 420,000

Prepaid insurance 43,050 Patents 115,500

Raw materials 351,750 Finished goods 178,500

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

CRANE COMPANY

Balance Sheet (Partial)

choose the accounting period

select an opening section name

enter a balance sheet item

$enter a dollar amount

enter a balance sheet item

enter a dollar amount

select an opening subsection name

enter a balance sheet item

$enter a dollar amount

enter a balance sheet item

enter a dollar amount

enter a balance sheet item

enter a dollar amount

enter a subtotal of the three previous amounts

enter a balance sheet item

enter a dollar amount

select a closing section name

$