QUESTION 20 The following partial balance sheet ($ in thousands) for Palsano Seafood Inc. is shown below. Assets Current assets: Cash Accounts receivable (net) Notes receivable Inventory Prepaid expenses Total current assets Equipment (net) Liabilities and Equity Current liabilities: $ 60 Accounts payable 170 Other current liabilities 50 Total current liabilities 200 Long-term liabilities 25 Total liabilities 505 Shareholders' equity: 255 Common stock Retained earnings Total shareholders equity $ 760 Total liabilities and equity $ 240 80 320 110 430 150 180 330 760 Total assets Quick assets total: $305 thousand. $280 thousand $60 thousand. $230 thousand