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1. Calculate the equity ratio based on the following information: cash = $14,870; accounts receivable =$22,108: prepaid $3,010; supplies = $927; equipment = $62,150; accumulated

1. Calculate the equity ratio based on the following information: cash = $14,870;

accounts receivable =$22,108: prepaid $3,010; supplies = $927; equipment = $62,150;

accumulated depreciation = $13,750; accounts payable = 28,000

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