Mary Walker, president of Rusco Company, considers $39,000 to be the minimum cash balance for operating purposes. As can be seen from the following statements, only $34,000 in cash was available at the end of this year. Since the company reported a large net income for the year, and also issued both bonds and common stock, the sharp decline in cash is puzzling to Ms. Walker. 1.11 points Rusco Company Comparative Balance Sheet at July 31 This Year Last Year Assets Current assets: 03:37:44 $55,800 234,700 207,400 20, 300 37,800 568,000535,700 215,000 769,000 219,500 195,700 573,300 $1,393,50o $1,324 ,000 Cash $34,000 246,600 267,100 Accounts Receivable Inventory References Prepaid expenses Total current assets Long-term investments Plant and equipment 147,000 898,000 Less accumulated depreciation Net plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: 678,500 $ 250,900 18,800 57,20048,500 318,200 257,000138,000 502,900456,200 $ 178,800 9,900 Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds Payable Total liabilities Stockholders' equity: 245, 900 747,500 Common stock Retained earnings 695,000 172,800 143,100 800 890,600867,800 Total stockholders' equity Total liabilities and stockholders' equity $1,393, 500 $1,324,000