Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following:

Cash$22,000Accounts payable$15,000Investments (short-term)3,000Accrued liabilities payable4,000Accounts receivable3,000Notes payable (current)7,000Inventory20,000Notes payable (noncurrent)87,000Notes receivable (long-term)1,000Long-term lease liabilities63,000Equipment50,000Common stock10,000Factory building90,000Additional paid-in capital117,000Operating lease right-of-use assets140,000Retained earnings31,000Intangible assets5,000

During the current year, the company had the following summarized activities:

1. Purchased short-term investments for $10,000 cash.
2. Lent $5,000 to a supplier, who signed a two-year note.
3. Leased equipment that cost $18,000; paid $5,000 cash and signed a five-year right-of-use lease for the balance.
4. Hired a new president at the end of the year. The contract was for $85,000 per year plus options to purchase company stock at a set price based on company performance. The new president begins her position on January 1 of next year.
5. Issued an additional 2,000 shares of $0.50 par value common stock for $11,000 cash.
6. Borrowed $9,000 cash from a local bank, payable in three months.
7. Purchased a patent (an intangible asset) for $3,000 cash.
8. Built an addition to the factory for $24,000; paid $8,000 in cash and signed a three-year note for the balance.
9. Returned defective equipment to the manufacturer, receiving a cash refund of $1,000.

JAGUAR PLASTICS COMPANYBalance SheetAt December 31selected answer correctAssetsCurrent assets:selected answer correct Cashselected answer correct$12,000Investmentsselected answer correct13,000Accounts receivableselected answer correct3,000Inventoryselected answer correct20,000Other Noncurrent Assetsselected answer incorrect48,000Other Noncurrent Assetsselected answer incorrect Total current assetsselected answer correct96,000Non-current assets:selected answer correct Notes Payable (current)selected answer incorrect Other current assetsselected answer incorrect not attempted not attempted not attempted not attempted not attempted0not attempted$96,000LiabilitiesCurrent liabilities:selected answer correct Accounts payableselected answer correct$15,000Accrued liabilities payableselected answer correct4,000Notes Payable (current)selected answer correct20,000not attempted Notes Payable (current)selected answer incorrect Total current liabilitiesselected answer correct39,000not attempted Long-term lease liabilitiesselected answer correct Notes Payable (Noncurrent)selected answer correct Total liabilitiesselected answer correct39,000Stockholders' EquityCommon stockselected answer correct Additional paid-in-capitalselected answer correct Retained earningsselected answer correct not attempted Total stockholders' equityselected answer correct112,000Total liabilities and stockholders' equityselected answer correct$151,000