Answer:
Explanation: current assets are assets other than fixed asset that a company uses in its day to day operations and are noted in the Balanced sheet of an organisation and they include:
Cash, Account receivable, Inventory, Supplies.
From the above question, the current asset of Buffalo Industries is stated below:
Balanced Sheet (extract)
Current assets :
Cash $97,340
Merchandise inventory $167,950
Supplies. $12,560
Total current asset. $277,850
