Galena's statement of financial position is as follows: Current assets Cash $ 154,000 Inventory 185,000

[answerhappygod]

Galena's statement of financial position is as follows:
Current assets
Cash
$
154,000
Inventory
185,000
Prepaid expenses
21,000
Non-current assets
Land
50,000
Building and equipment
145,000
Other
15,000
Total
$
570,000
Current liabilities
165,000
Long-term debt
190,000
Share capital
80,000
Retained earnings
135,000
Total
$
570,000
Galena’s statement of financial position is presented just
before the company begins making shipments to retailers for its
fall and winter season. How would your evaluation change if
these balances existed in late February, following completion of
its primary business for the skiing season?