Question - The following financial information is from Shovels Construction Company.
| Accounts payable |
$14,500 |
| Buildings |
85,000 |
| Cash |
11,600 |
| Accounts receivable |
10,000 |
| Sales tax payable |
2,900 |
| Retained earnings |
46,400 |
| Supplies |
41,800 |
| Notes payable (due in 18 months) |
26,000 |
| Interest payable |
1,000 |
| Common stock |
57,600 |
What is the amount of current assets, assuming the accounts above reflect normal activity?