1. Scherbert Industries has the following balance sheet accounts as of 12/31/X3 - 88105

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1. Scherbert Industries has the following balance sheet accounts as of 12/31/X3 (not a complete balance sheet): Accounts payable: $650,000 Accounts receivable: 845,000 Accruals: 257,500 Cash: 137,200 Common Stock: 1,200,000 Fixed assets (net): 8,250,000 Inventory: 655,000 Long-term debt: 3,500,000
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