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6 Shown below is the balance sheet of S. Magbool. On the basis of the limited information given, would you say that Magbool has any

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6 Shown below is the balance sheet of S. Magbool. On the basis of the limited information given, would you say that Magbool has any kind of financial problem? Explain. S. MAGBOOL BALANCE SHEET JANUARY 31, 20-- Assets Liabilities Cash $ 6 000 Accounts Payable $ 35 000 Accounts Receivable 14 000 Mortgage Payable 60 000 Land 40 000 Total Liabilities $ 95 000 Buildings 95 000 Owner's Equity Equipment 25 000 S. Magbool, Capital 85 000 Total Assets $180 000 Total Liabilities and Equity $180 000

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