Balance Sheet Missing element problem. Plz help? I tried but didn't make it correct. Can anyone plz help?
The following December 31, 2009, fiscal year-end account balance information is available for the Stonebridge Corporation:
Cash and cash equivalents $ 5,000
Accounts receivable (net) 20,000
Inventories 60,000
Property, plant, and equipment (net) 120,000
Accounts payable 44,000
Wages payable 15,000
Paid-in-capital 100,000
The 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, 2009:
Total current assets ??
Short-term investments ??
Retained earnings ??

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