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Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Ace Supply Company Balance Sheet
Use the following data to determine the total dollar amount of assets to be classified as property, plant, and equipment. Ace Supply Company Balance Sheet December 31, 2025 Cash Accounts receivable Inventory Short-term investments Land (held for future use) Land Buildings Less: Accumulated depreciation (60,000) Franchise Total assets $564,000 $1,029,000 $339,000 $834,000 O $774,000 $ 126,000 120,000 210,000 90,000 255,000 285,000 210,000 $1,575,000 Accounts payable Salaries and wages payable Note payable (due 2028) Total liabilities Common stock Retained earnings 279,000 Total stockholders' equity Total liabilities and stockholders' equity $ 165,000 30,000 270,000 465,000 360,000 750,000 1,110,000 $1,575,000
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