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Metric Amount Total Assets $3,400,000 Total Liabilities & Equity $2,800,000 Total Current Assets Total Equity To compute Total Current Assets, we'll need to find the

Metric

Amount

Total Assets

$3,400,000

Total Liabilities


& Equity

$2,800,000

Total Current Assets


Total Equity


To compute Total Current Assets, we'll need to find the values of cash, accounts receivable, inventory, and prepaid expenses individually and then sum them up.

To compute Total Equity, we'll subtract Total Liabilities from Total Assets.

Let's calculate:

  1. Total Current Assets: This includes cash, accounts receivable, inventory, and prepaid expenses.

Let's say:

    • Cash = $500,000
    • Accounts Receivable = $600,000
    • Inventory = $800,000
    • Prepaid Expenses = $300,000

Total Current Assets = $500,000 + $600,000 + $800,000 + $300,000 = $2,200,000

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