$$$$$$CULVER CITY LIGHTING, INC. Balance Sheet At December 31, 2016 Assets Current assets Cash55,000 Accounts receivable39,000 Inventories45,000 Prepaid insurance15,000 Total current assets154,000 Property, plant, and equipment Equipment100,000 Accumulated depreciation(34,000) Net property, plant, and equipment66,000 Intangible assets Patent40,000 Total assets 260,000 Liabilities and Shareholders' Equity Current liabilities Accounts payable12,000 Interest payable2,000 Current maturities of longterm debt10,000 Total current liabilities24,000 Longterm liabilities Note payable90,000 Shareholders' equity Common stock70,000 Retained earnings76,000 Total shareholders' equity146,000 Total liabilities and shareholders' equity 260,000 Explanation: No further explanation details are available for this problem. eBook & ResourcesReferences
