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3. Use your knowledge of balance sheets to fill in the amounts missing in the text. Cash $ 10,000 Accounts payable $ 12,000 Accounts receivable

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3. Use your knowledge of balance sheets to fill in the amounts missing in the text. Cash $ 10,000 Accounts payable $ 12,000 Accounts receivable 100,000 Notes payable 50,000 Inventory Total current liabilities Total current assets $220,000 Long-term debt Gross P&E 500,000 Total Liabilities $190,000 Less accumulated Common stock 100,000 depreciation Paid-in capital Net P&E $375,000 Retained earnings 150,000 Total assets $ Total stockholders' equity Total liabilities and equity

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