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Desert Company reported the following account balances at the end of the 1^("st ") quarter:...

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Accounting

Desert Company reported the following account balances at the end of the 1^("st ") quarter:

Prepaid Expenses* $4,873

Patents $28,810

PPE (net) $473,683

Cash $34,478

Trading Securities $10,623

Unearned Revenue $24,179

Retained Earnings $550,000

Accounts Receivable (net) $65,794

Notes Payable $82,318

*Prepaid Expenses are for a 2-year lease, beginning January of this year. What would Desert report for Current Assets on its quarterly balance sheet?

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