Use the Information That Follows from the Financial Statements of Pines

question 12

Essay

Use the information that follows from the financial statements of Pines Company at December 31, 2017, to answer questions 16 through 20 that follow.
$\begin{array}{lr}\text { Accounts payable } & \$ 2,000 \\\text { Accounts receivable } & 3,000 \\\text { Capital stock } & 8,000 \\\text { Cash } & 5,000 \\\text { Inventory } & 19,000 \\\text { Land } & 24,000 \\\text { Notes payable (short-term) } & 5,000 \\\text { Cost of goods sold } & 12,000 \\\text { Retained earnings } & 21,000 \\\text { Sales revenue } & 20,000\end{array}$
-Calculate total current liabilities for Pines Company at December 31, 2017.

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Definitions:

Essential Services

Services deemed crucial to the public welfare, including healthcare, utilities, and emergency services, which are often protected by law during strikes or disputes.

Strike Situation

A work stoppage by employees as a protest, typically to gain improved employment conditions or pay.

Bargaining Unit

A group of employees with a clear and identifiable community of interests who are represented by a single union in collective bargaining.

Provincial Labour Relations Board

A governmental body responsible for regulating labor and employment relations within a specific province, often focusing on issues related to unions and collective bargaining.