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A company's balance sheet as of January 1, 20X24, is as follows: Account Amount Cash $140,000 Accounts Receivable $160,000 Inventory $170,000 Prepaid Expenses $85,000 Property,

A company's balance sheet as of January 1, 20X24, is as follows:

AccountAmount
Cash$140,000
Accounts Receivable$160,000
Inventory$170,000
Prepaid Expenses$85,000
Property, Plant & Equipment$950,000
Accumulated Depreciation$160,000
Accounts Payable$180,000
Notes Payable$240,000
Common Stock$380,000
Retained Earnings$490,000

Calculate the following:

  1. Total Assets
  2. Total Liabilities
  3. Total Equity

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