The following information was available from the balance sheet (after closing entries were made): accounts payable, $32,600; accounts receivable, $104,800; accumulated depreciation-delivery equipment, $17,100; accumulated depreciation-store fixtures, $42,220; cash, $28,400; delivery equipment, $88,500; inventory, $136,540; investment in securities (long-term), $56,000; investment in U.S. government securities (short-term), $39,600; long-term notes payable, $100,000; C. Jimenez, Capital, $359,300 (ending balance); notes payable (short-term), $50,000; prepaid expenses (short-term), $5,760; and store fixtures, $141,620.
Total assets and total owner’s equity at December 31, 2008, were $524,400 and $376,170, respectively, and owner’s withdrawals for the year were $60,000. The owner did not make any additional investments in the company during the year.
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