of the annual depreciation expense on ai its acquisition to the currens date. Asset offset account (subtracted from asset) L. ated earnings minus accumulated dividends N. Pruperty, plant, and eqaipment. O. Same as carrying value; cost less accumulated depreciation to date. P. Amount of contributed capital less the par value of the stock. Q. The average cash-to-cash time involved in the operations of the business. R. None of the above. P5-3 a Balance Sheet and Analyzing Some of Its Parts (AP5-1) Fuquisite Jewelers is developing its annual financial statements for the current year. The following LO5-3 mounts were correct at December 31, current year: cash, $58.000, accounts receivable, $71,000, mer- chundise inventory, $154,000; prepaid insurance. $1,500, investment in stock of Z Corporation (long erm) $36,000: store equipment, $67.000; used store equipment held for disposal, $9,000: accumulated depreciation, store equipment, $19,000; accounts payable, $52.500, long-term note payable, $42,000: income taxes payable, $9.000; retained earnings, $164,000, and common stock, 100,000 shares outstand- ing, par value $1.00 per share (originally sold and issued at SI.10 per share). Required . Based on these data, prepare a December 31, current year, balance sheet. Use the following major captions (list the individual items under these captions): a Asse ets: Current Assets, Long-Term Investments, Fixed Assets, and Other Assets. ntined Farnings. Current Liabilities and Long-Term Liabilities