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What is Petite Company about?

Petite Company reported total current assets of $7,950,000 on its balance sheet as of December 31, 2019, which included $5,000,000 in cash, $2,000,000 in accounts receivable, and $800,000 in inventory and $150,000 in prepaid expenses. The $5,000,000 in cash consists of $3,500,000 in a general checking account, $1,000,000 set aside to retire bonds, and $500,000 for value added taxes.

Author

Katrina Dela Cruz

Language

EN