The following balance sheet was prepared by the bookkeeper for Perry Company as of December 31, 2020. Balance Sheet as of December 31, 2020 $ 75,000 107,200 219,900 Cash $80,000 Current Liabilities Accounts Receivable (net) 53,600 Long-term Liabilities Inventories 57,000 Stockholder's Equity Prepaid Insurance 7,200 Long-Term Investments 76,300 Equipment (net) 96,000 Intangibles 32,000 TOTAL ASSETS (NET) $402,100 TOTAL LIAB & SHE The following additional information is provided: $402,100 1. Cash includes the cash surrender value of a life insurance policy for $9,400. 2. The net accounts receivable balance of $53,600 reported on the balance sheet is reconciled as follows: (a) Accounts Receivables showing debit balances total $60,000 (b) Less: Accounts Receivables showing credit balances, $4,000. (These customers are owed a refund) (c) Less: Allowance for Doubtful Accounts ending balance of $2,400. (The ending ADA is correct and represents the company's estimate that on average, 4% of the A/R will prove to be uncollectible. 3. Inventories excluded goods costing $3,000 held on consignment from XYZ Company. 4. In late December, the Company prepaid $7,200 for 36 months of casualty insurance. The coverage will begin on Jan 1, 2021. 5. Long-Term Investments include the following: Trading Securities of $19,000 which management intends to sell during 2021 Available-for-Sale Securities with no intent to sell within the next 3 years of $48,300. $9,000 for Franchises. 6. Included in the Equipment (net) account is a piece of machinery costing $5,000 with accumulated depreciation of $4,000 that is no longer used. 7. The Intangible Assets include a Patent for $32,000 Instructions: After making any necessary corrections for account classifications or errors, determine each of the following: a. Total Current Assets (net): $ b. Total Current Liabilities: $ c. Long-Term Investments: $ d. Equipment (net): e. Total Intangible Assets: f. Other Assets