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Use the following data to determine the total dollar amount of assets to be classified...

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Accounting

Use the following data to determine the total dollar amount of assets to be classified as current assets.
Cullumber Company
Balance Sheet
December 31,2025
Cash
$185000
Accounts payable
$207000
Accounts receivable
140000
Salaries and wages payable
25000
Inventory
162000
Mortgage payable
231500
Prepaid insurance
93000
Total liabilities
463500
Stock investments (Long-term)
270000
Land
292000
Buildings
$303000
Common stock
406000
Less: Accumulated depreciation
(62500)
240500
Retained earnings
735000
Goodwill
222000
Total stockholders' equity
1141000
Total assets
$1604500
Total liabilities and stockholders' equity
$1604500
Select answer from the options below
$580000
$487000
$418000
$850000

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