The following December 31, 2013, 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, 2013:
1. Total current assets
2. Short term investments
3. Retained earnings