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Carpeting Company provides the following partial list of assets: Cash $5,000; A/R: $30,000; Inventory: $25,000; Prepaid...

Carpeting Company provides the following partial list of assets: Cash $5,000; A/R: $30,000; Inventory: $25,000; Prepaid Expenses: $1,000; Patents: $7,000. What is the total amount of current assets that Chamberlain Company would report on its balance sheet?

a. $61,000

b. $68,000

c. $60,000

d. $36,000

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