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The account balances for Atlantis Aquatics, Inc., for the year ended August 31, 2018, are presented below in random order. (Click the icon to
The account balances for Atlantis Aquatics, Inc., for the year ended August 31, 2018, are presented below in random order. (Click the icon to view the account balances listing.) Net income for the year amounted to $55,600. Read the requirement Current Assets: Assets Balance Sheet August 31, 2018 Liabilities Cash $ 6,900 Accounts receivable 6,300 Inventory 3,100 Estimated inventory returns 2,500 Supplies 1,300 Prepaid rent 3,300 Total current assets $ 23,400 Long-Term Assets Building 155.000 Total abilities Less Accumulated depreciation, building Equipment 39.000 116,000 Stockholders' Equity 9,000. Less Accumulated depreciation, equipment 0.600 200 Total assets Total stockholders' equity $ 139,600 Total liabilities and stockholders' equity
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