Koonce Office Supplies Balance Sheet December 31, 2016 Accounts payable $ 140,000 Salaries and wages payable 60,000 Mortgage payable (due in 3 yrs) 250,000 Total liabilities 460,000 Cash $ 100,000 Accounts receivable 110,000 Inventory 90,000 Prepaid insurance 60,000 Stock investments 170,000 (to be held for 3 years) Land 180,000 Buildings 230,000 Less: Accumulated depreciation (40.000) NBV Buildings 190,000 Trademarks 140,000 Total assets 1,060,000 1 200,000 400,000 Common stock Retained earings Total stockholders' equity Total liabilities and stockholders' equity 600,000 $1,060,000 Use the data for Koonce Office Supplies to determine the total dollar amount of assets to be classified current assets $1,060,000 $360,000 $920,000 $320,000