Baxter Hoffman recently received the following information related to Hoffman Company’s December 31, 2012, balance sheet.
|
Prepaid insurance |
$ 2,300 |
|
Cash |
800 |
|
Equipment |
10,700 |
|
Inventory |
$3,400 |
|
Accumulated depreciation— |
|
|
equipment |
2,700 |
|
Accounts receivable |
1,100 |
Prepare the asset section of Hoffman Company’s balance sheet.