Prepare a balance sheet from the following information and comment on the position of the business as

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Prepare a balance sheet from the following information and comment on the position of the business as shown by that balance sheet.

Stock of goods held for resale Freehold land and building Mortgage on land and building Cash in tills Fixtures and fittings Office furniture

6500 34000 29000 500 7600 2300 Bank overdraft Delivery van Owners' equity 20700 3200 ?

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