6. Hoover Inc. has current assets of $350,000 and fixed plant assets o sb5u 000 in preferred stock outstanding a $100,000 and long-term liabilities are $250,000. There is $120 the firm has issued 10,000 shares of common stock. What is the firm s total equity? TEW COMPANY Balance Sheet As of December 31 ASSETS Cash Accounts receivable Inventor Net plant and equipment Total assets $20,000 80,000 250 000 CORN LIABILITIE'S AND STOCKHOLDERS EQUITY $40,000 Accrued expenses 130,000 Common stock Paid-in capital Retained earnings 100,000 10,000 0 $400,000 Total liabilities and stockholders equity