Question

These are the accounts in ABC Inc.’s trial balance:
Inventory: $19,000
Bonds Payable: $14,500
Patents: $220,000
Land: $80,000
Accounts Payable: $26,500
Cash: $7,000
Equipment: $150,000
Goodwill: $105,000
Notes Payable: $10,000
Wages Payable: $14,000
Common Stock: $85,000
Accounts Receivable: $13,500

Determine the firm’s total current assets.
$32,500
$39,500
$225,000
$35,500
$143,500