Question

Presented below is the trial balance of Wildhorse Corporation at December 31, 2020.

		Debit		Credit
Cash		$383,500
Sales Revenue				$15,795,000
Debt Investments (trading) (at cost, $218,000)		299,000
Cost of Goods Sold		9,360,000
Debt Investments (long-term)		582,400
Equity Investments (long-term)		540,800
Notes Payable (short-term)				175,500
Accounts Payable				886,600
Selling Expenses		3,900,000
Investment Revenue				123,500
Land		507,000
Buildings		2,028,000
Dividends Payable				265,200
Accrued Liabilities				187,200
Accounts Receivable		847,600
Accumulated Depreciation–Buildings				296,400
Allowance for Doubtful Accounts				49,400
Administrative Expenses		1,755,000
Interest Expense		412,100
Inventory		1,163,500
Gain				156,000
Notes Payable (long-term)				1,755,000
Equipment		1,170,000
Bonds Payable				1,950,000
Accumulated Depreciation–Equipment				117,000
Franchises		312,000
Common Stock ($5 par)				1,950,000
Treasury Stock		373,100
Patents		380,900
Retained Earnings				152,100
Paid-in Capital in Excess of Par				156,000
Totals		$24,014,900		$24,014,900

Compute each of the following:

1.		Total current assets		$
2.		Total property, plant, and equipment		$
3.		Total assets		$
4.		Total liabilities		$
5.		Total stockholders’ equity		$

Answer 1