The accounting equation is Assets 5 Liabilities 1 Stockholders Equity. Appendix A, at the end of this

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The accounting equation is Assets 5 Liabilities 1 Stockholders’ Equity. Appendix A, at the end of this textbook, reproduces Tootsie Roll’s financial statements. Replacing words in the equation with dollar amounts, what is Tootsie Roll’s accounting equation at December 31, 2011?

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