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Use the following data to determine the total dollar amount of assets to be classified as current assets. Ace Supply Company Balance Sheet December
Use the following data to determine the total dollar amount of assets to be classified as current assets. Ace Supply Company Balance Sheet December 31, 2025 Cash $129800 Accounts payable $171500 Accounts receivable 23800 Salaries and wages payable 26800 Inventory 210000 Note payable (due 2028) 271600 Short-term investments 88200 Total liabilities 469900 Land (held for future use) 251500 Land 290000 Buildings $340000 Common stock 364500 Less: Accumulated depreciation (56300) 283700 Retained earnings 751400 Franchise 208800 Total stockholders' equity 1115900 Total assets $1585800 Total liabilities and stockholders' equity $1585800 O $551800 O $463600 O $803300 O $339800
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