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A company's balance sheet as of January 1, 20X45, is as follows: Account Amount Cash $210,000 Accounts Receivable $230,000 Inventory $240,000 Prepaid Expenses $155,000 Property,

A company's balance sheet as of January 1, 20X45, is as follows:

AccountAmount
Cash$210,000
Accounts Receivable$230,000
Inventory$240,000
Prepaid Expenses$155,000
Property, Plant & Equipment$1,650,000
Accumulated Depreciation$300,000
Accounts Payable$320,000
Notes Payable$520,000
Common Stock$660,000
Retained Earnings$880,000

Calculate the following:

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

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