Use the information in the adjusted trial balance presented below to calculate current assets for Jones Company: Account Title Debit Credit Cash 47,000 Accounts receivable 24,000 Prepaid insurance 9,800 Equipment 180,000 Accumulated Depreciation - Equipment 90,000 Land 103,000 Accounts payable 25,000 Interest payable 4,400 Unearned revenue 7,400 Long-term notes payable 54,000 J. Jones, Capital 183,000 Totals 363,800 363,800

Sailcloth & more currently produces boat sails and is considering expanding its operations to include awnings for homes and travel trailers. the company owns land beside its current manufacturing facility that could be used for the expansion. the company bought this land 5 years ago at a cost of $319,000. at the time of purchase, the company paid $24,000 to level out the land so it would be suitable for future use. today, the land is valued at $295,000. the company has some unused equipment that it currently owns valued at $38,000. this equipment could be used for producing awnings if $12,000 is spent for equipment modifications. other equipment costing $490,000 will also be required. what is the amount of the initial cash flow for this expansion project?