XYZ Company has the following information for the year ended December 31, 2023: Item Amount ($) Cash
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Question:
- XYZ Company has the following information for the year ended December 31, 2023:
| Item | Amount ($) |
|---|---|
| Cash | 5,500,000 |
| Accounts Receivable | 3,400,000 |
| Inventory | 3,150,000 |
| Prepaid Expenses | 1,200,000 |
| Total Current Assets | ? |
| Property, Plant, Equipment | 12,000,000 |
| Accumulated Depreciation | 8,800,000 |
| Total Assets | ? |
Requirements:
- Calculate the Total Current Assets.
- Calculate the Total Assets.
Expert Answer:
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