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5. The following items are components of a traditional balance sheet. How much are the total assets of the firm? Plant and equipment $44,500 Common

5. The following items are components of a traditional balance sheet. How much are the total assets of the firm?

Plant and equipment $44,500

Common stock 15,000

Cash 6,400

Inventory 22,500

Bad debt reserve 6,000

Additional paid-in capital 6,000

Accumulated depreciation 28,700

Accounts receivable 22,000

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