Time Remaining 1 hour 51 minutes 46 seconds 01:51:46 Item 3 Time Remaining 1 hour 51 minutes 46 seconds 01:51:46 The financial statements of Seldin, Incorporated, provide the following information for the current year: December 31 January 1 Accounts receivable $ 38,000 $ 43,000 Inventory $ 58,000 $ 54,000 Prepaid expenses $ 12,300 $ 14,300 Accounts payable (for merchandise) $ 36,000 $ 35,000 Accrued expenses payable $ 15,300 $ 20,300 Net sales $ 275,000