ANSWERS TO QUESTIONS

Uhura Company Balance Sheet December 31, 2007 Assets Current assets Cash $230,000 Trading securities—at fair value 120,000 Accounts receivable $357,000 Less: Allowance for doubtful accounts 17,000 340,000 Inventories, at lower of average cost or market 401,000 Prepaid expenses 12,000 Total current assets $1,103,000 Long-term investments Land ... ................
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