Question $20$

Based on the following data as of December $31,2021,$ what is the amount of current assets?

Accounts payable

Accounts receivable

Building

Cash

Patent

Inventory

Note recelvable, due Feb. $1,2023$

Short$-$term investments

Note payable, due June $1,2022$

Prepaid expenses

$$62,000$

$100,000$

$1,340,000$

$30,000$

$100,000$

$138,000$

$160,000$

$80,000$

$56,000$

$2,000$

$$510,000$

$$210,000.$

$$212,000.$

$$350,000.$

Question $21$

have no effect on total assets.

decreases assets.

increases assets.

increases net income.