Partial balance sheet data for Ellison Company at December 31, 2008, are as follows:
|
Finished goods inventory |
$12,500 |
|
Prepaid insurance |
6,000 |
|
Accounts receivable |
25,000 |
|
Work in process inventory |
45,000 |
|
Supplies |
15,000 |
|
Materials inventory |
24,000 |
|
Cash |
32,000 |
Prepare the Current Assets section of Ellison Company’s balance sheet at December 31, 2008.