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Side Kicks Company Balance Sheet December 31, 2007 Assets Current assets Cash $ 41,000 Accounts receivable $163,500 Less: Allowance for doubtful accounts 8,700 154,800 Inventory—at LIFO cost 308,500 Prepaid insurance 5,900 Total current assets $ 510,200 Long-term investments Investments in stocks and bonds, of which investments of $120,000 ... ................
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