Use the information below for the Michigan Auto Corporation (MAC) to answer the following questions.
Balance Sheet Accounts of Michigan Auto Corporation (MAC) Corporation
Account Balance 12/31/2017
Accumulated depreciation $7,650
Accounts payable $6,875
Accounts receivable $8,000
Cash $3,750
Common stock $15,625
Inventory $11,250
Long-Term debt $17,750
Plant, property, and equipment $37,000
Retained earnings $12,100
Refer to the Balance Sheet Accounts of MAC Corporation. The value of current assets for the year-end is ________.
A. $8,000
B. $6,875
C. $15,625
D. $23,000
