The Following Information Is for Acme Auto Supplies: Acme Auto

Multiple Choice

The following information is for Acme Auto Supplies: Acme Auto Supplies
Statement of Financial Position
December 31, 2011
$\begin{array}{llll}\text { Trademark } &&& 70,000 & \text { Accounts } & 65,000\\&&&&\text { Payable }\\\text { Land } && 95,000 && \text { Salaries } & 10,000\\&&&&\text { Payable }\\\text { Building } & \$ 100,000 &&& \text { Mortage } & 90,000 & 165,000\\&&&&\text { Payable }\\\text { Less Accum. } & & & \\\text { Depreciation } & (30,000) & 70,000 & 165,000 \\\text { Land held for } & & & 80,000\\\text { investment }\\\text { Prepaid Insurance } & 40,000 \\\text { Inventory } & 70,000 &&&\text { Share Capital } & \$ 120,000 \\\text { Accounts } & 50,000&&&\text { Retained } & 250,000\\\text { Receivable }&&&&\text { Earnings }\\\text { Cash }&&&60,00&&&\$370,000\\\text { Total Assets }&&&\$535,000&\text { Total Equity }&\$535,000\\&&&&\text { and Liabilities }\\\end{array}$ The total dollar amount of assets to be classified as current assets is

A) $220,000.
B) $150,000.
C) $300,000.
D) $180,000.