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7. If total assets equal $545,000 and total owners' equity equal $420,000, then total liabilities must equal: A. $125,000 B. $965,000 C. Cannot be determined

7. If total assets equal $545,000 and total owners' equity equal $420,000, then total liabilities must equal: A. $125,000 B. $965,000 C. Cannot be determined from the information given D. Some other amount

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