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The following December 31, 2013, fiscal year end account balance information is available for the Stonebridge Corporation:Cash and cash equivalents........ $ 5,000Accounts receivable (net) ........ 20,000Inventories ................ 60,000Property, plant, and equipment (net) .... 120,000Accounts payable ........... 44,000Wages payable ............ 15,000Paid in capital ............. 100,000The only asset not listed is short term investments. The only liabilities not listed are a $30,000 note payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year end is 1.5:1.
Required:Determine the following at December 31, 2013:1. Total current assets2. Short term investments3. Retained earnings
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