Reference no: EM133156389

Question - The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation:

Cash and cash equivalents $5,700

Accounts receivable (net) 27,000

Inventory 67,000

Property, plant, and equipment (net) 155,000

Accounts payable 46,000

Salaries payable 18,000

Paid-in capital 135,000

The only asset not listed is short-term investments. The only liabilities not listed are $37,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.6:1.

Required - Determine the following at December 31, 2021:

1. Total current assets

2. Short-term investments

3. Retained earnings