Use the Following Data to Determine the Total Dollar Amount

question 99

Multiple Choice

Use the following data to determine the total dollar amount of assets to be classified as investments. $\begin{array} { l } \text {Carne Auto Supplies }\\ \text { Balance Sheet }\\ \text { December 31,2022 }\\\begin{array}{lr}\text { Cash } & \$ 0,000 \\\text { Accounts receivable } & 100,000 \\\text { Inventory } & 140,000 \\\text { Prepaid insurance } & 80,000 \\\text { Stock investments } & 180,000 \\\text { Land } & 190,000\\\text { Buildings } & \$ 230,000 & \\\text { Less: Accumulated } & \\\quad \text { depreciation } (60,000) & 170,000 \\\text { Patent } & 140,000 \\\text { Total assets } & \$ 1,070,000\\\end{array}&\begin{array}{lrr}\text { Accounts payable } & \$ 130,000 \\\text { Salaries and wages payable } & 20,000 \\\text { Mortgage payable } & 180,000 \\\text { Total liabilities } & 330,000\\\\\\\text { Common stock } & 240,000 \\\text { Retained earnings } & 500,000 \\\text { Total stockholders' equity } & 740,000 \\\text { Total liabilities and } & \\\text { stockholders' equity } & \$ 1,070,000\\\end{array}\\\end{array}$

---

Definitions:

Hunters And Heavy Laborers

Individuals who engage in hunting and physically demanding tasks as their primary forms of occupation or subsistence.

Physiological Differences

Variations in the functioning of organisms due to biological factors.

Exercise And Athletic Performance

The influence of physical activity on the body's ability to perform in sports or other physical endeavors.

Primates

A group of mammals that includes humans, apes, monkeys, and prosimians, characterized by large brains, forward-facing eyes, and opposable thumbs.