The following financial information is from shovels construction company.
accounts payable $14,500
buildings 83,000
cash 11,200
accounts receivable 10,500
sales tax payable 3,400
retained earnings 47,100
supplies 40,200
notes payable due in 18 months 27,000
interest payable 2,800
common stock 50,100
what is the amount of current assets, assuming the accounts above reflect normal activity?

Current Assets : $61.900

Explanation:

AssetsYEAR

Cash  $11.200  

Accounts Receivable  $10.500  

Supplies  $40.200  

TOTAL CURRENT ASSETS   61.900  

Building  $83.000  

TOTAL ASSETS   144.900  

Accounts Payable   $14.500  

Wages Tax Payable   $3.400  

Interes Payable   $2.800  

TOTAL CURRENT LIABILITIES   $20.700  

Notes Payable   $27.000  

TOTAL LIABILITIES   $47.700  

Equity  

Common Stock   $50.100  

Retained Earnings   $47.100  

TOTAL EQUITY   $97.200  

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