Question
The following December 31, 2021, fiscal year-end account balance information is available for the Stone Corporation: Cash and cash equivalents $ 6,200 Accounts receivable (net)
The following December 31, 2021, fiscal year-end account balance information is available for the Stone Corporation:
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Cash and cash equivalents | $ | 6,200 |
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Accounts receivable (net) |
| 32,000 |
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Inventory |
| 72,000 |
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Property, plant, and equipment (net) |
| 180,000 |
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Accounts payable |
| 51,000 |
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Salaries payable |
| 23,000 |
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Paid-in capital |
| 160,000 |
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The only asset not listed is short-term investments. The only liabilities not listed are $42,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.5:1. Required: Determine the following at December 31, 2021:
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