The classified balance sheet for a company reported current assets of $1,754,244, total liabilities of $817,540, common stock of $1,180,000, and retained earnings of $148,260. The current ratio was 2.7. What is the total amount of noncurrent assets?

$391,556

Explanation:

The values given are:

Total liabilities= $817,540

Common stock= $1,180,000

Retained earnings= $148,260

Current assets= $1,754,244

Therefore the non-current assets can be calculated as follows

Total liabilities+Common stock+Retained earnings-Current assets

$817,540+$1,180,000+$148,260-$1,754,244

= $2,145,800-$1,754,244

= $391,556

Hence the total amount of non-current assets is $391,556

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- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

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- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.