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9. (10 points) Brace Company was established at the beginning of 20A when several investors paid a total of $105,000 to purchase Brace stock. No

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9. (10 points) Brace Company was established at the beginning of 20A when several investors paid a total of $105,000 to purchase Brace stock. No additional investments in stock were made during the year. By the end of that year, Brace had cash on hand of $40,000, office equipment (net) of $25,000, inventories of $122,000, and accounts payable of $83,000. Sales for the year were $510,000. Of this amount, customers still owed $125,000. Brace paid dividends of $22,000 to its investors. a) Total Current Assets are $ b) Total Assets are $ c) Total Long-term Liabilities are $ d) Total Equity is $. d) Net Income is $

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