The equity sections from atticus group’s 2016 and 2017 year-end balance sheets follow. stockholders’ equity (december 31, 2016) common stock—$5 par value, 100,000 shares authorized, 35,000 shares issued and outstanding $175,000 paid-in capital in excess of par value, common stock 135,000 retained earnings 320,000 total stockholders’ equity $630,000

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: