Balance Sheet Relationships Correct the following balance sheet Canfield Corporation Balance Sheet December 31, 2009 Liabilities and

Balance Sheet Relationships Correct the following balance sheet

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Canfield Corporation Balance Sheet December 31, 2009 Liabilities and Owners' Equity Assets Cash Accounts payable $ 55,000 Buildings $325,000 65,000 Accounts receivable 75,000 Interest receivable 20,000 Mortgage payable 150,000 Capital stock 200,000 Sales revenue 350,000 Rent expense 60,000 Equipment 85,000 Retained earnings 145,000 Utilities expense 5,000 Total liabilities Total assets $545,000 and owners' equity $990,000