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A company's balance sheet as of January 1, 20X21, is as follows: Account Amount Cash $130,000 Accounts Receivable $150,000 Inventory $160,000 Prepaid Expenses $75,000 Property,
A company's balance sheet as of January 1, 20X21, is as follows:
Account | Amount |
---|---|
Cash | $130,000 |
Accounts Receivable | $150,000 |
Inventory | $160,000 |
Prepaid Expenses | $75,000 |
Property, Plant & Equipment | $850,000 |
Accumulated Depreciation | $140,000 |
Accounts Payable | $160,000 |
Notes Payable | $200,000 |
Common Stock | $340,000 |
Retained Earnings | $440,000 |
Calculate the following:
- Total Assets
- Total Liabilities
- Total Equity
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