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A company's balance sheet as of January 1, 20X59, is as follows: Account Amount Cash $290,000 Accounts Receivable $310,000 Inventory $320,000 Prepaid Expenses $205,000 Property,

A company's balance sheet as of January 1, 20X59, is as follows:

AccountAmount
Cash$290,000
Accounts Receivable$310,000
Inventory$320,000
Prepaid Expenses$205,000
Property, Plant & Equipment$2,150,000
Accumulated Depreciation$390,000
Accounts Payable$410,000
Notes Payable$700,000
Common Stock$880,000
Retained Earnings$1,160,000

Calculate the following:

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

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