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Presented below is the trial balance of Hightower Corporation at December 31, 2017 295,000 Sales Revenue Debt Investments (trading) (at cost, $218,000) Cost of Goods
Presented below is the trial balance of Hightower Corporation at December 31, 2017 295,000 Sales Revenue Debt Investments (trading) (at cost, $218,000) Cost of Goods Sold Debt Investments (long-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue $12,150,000 230,000 7,200,000 448,000 416,000 3,000,000 95,000 390,000 1,560,000 Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory 144,000 652,000 38,000 1,350,000 317,000 895,000 Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation-Equipment 1,350,000 900,000 1,500,000 90,000 240,000 Common Stock ($5 par) Treasury Stock Patents Retained Earnings Paid-in Capital in Excess of Par Totals 1,500,000 287,000 293,000 117,000 Instructions Compute each of the following: 1. Total current assets 2. Total property, plant, and equipment 3. Total assets 4. Total liabilities 5. Total stockholders' equity
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