Supreme Videos, Incorporated, produces short musical videos for sale to retail outlets. The company's balance sheet accounts as of January $1$ are given below.

$\backslash$table$[[\backslash$table$[[$Supreme Videos, Incorporated$],[$Balance Sheet$],[$January $1]],,],[$Assets$],[$Current assets:$],[$Cash$,-,$$$68,000$

Supreme Videos, Incorporated, produces short musical videos for sale to retail outlets. The company's balance sheet accounts as January $1$ are given below.AssetsCurrent assets:CashAccounts receivable$$68,000$

Inventories:

$107,000$

Raw materials $($film$,$ costumes$)$

Videos in process

Finished vidpos awaiting sale

Prepaid insurance

Total current assets

Studio and equipment

Less accumulated depreciation

Total assets

Liabilities and Stockholders' Equity

Accounts payable

$\backslash$table$[[\backslash$table$[[\backslash$table$[[$$$35,000$