Mary Walker, president of Rusco Company, considers $43,000 to be the minimum cash balance for operating purposes. As can be seen from the following statements, only $38,000 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. Rusco Company Comparative Balance Sheet at July 31 Assets Current assets: This Year Last Year Cash and cash equivalents $ 38,000 $ 60,600 Accounts receivable Inventory Prepaid expenses Total current assets Long-term investments Plant and equipment Less accumulated depreciation 227,600 239,900 270,700 209,800 23,100 42,600 559,400 552,900 159,000 235,000 906,000 773,000 221,500 196,900 Net plant and equipment 684,500 576,100 Total assets $1,402,900 $1,364,000 Liabilities and Stockholders' Equity Current liabilities: