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Profilo Co. has the following assets and liabilities: Assets : cash, $100; accounts receivable, $150; Inventory, $240; land, $200; plant, net of accumulated amortization, $300.

  1. Profilo Co. has the following assets and liabilities: 
  2. Assets
  3. cash, $100; 
  4. accounts receivable, $150; 
  5. Inventory, $240; 
  6. land, $200; 
  7. plant, net of accumulated amortization, $300.
  8. Liabilities:
  9. short-term bank loan, $60;
  10. accounts payable, $160;
  11. long-term mortgage loan, $160. 
Calculate Profilo Co.'s long-term assets.

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