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A company's balance sheet as of January 1, 20X6, is as follows: Account Amount Cash $80,000 Accounts Receivable $100,000 Inventory $110,000 Prepaid Expenses $25,000 Property,
A company's balance sheet as of January 1, 20X6, is as follows:
Account | Amount |
---|---|
Cash | $80,000 |
Accounts Receivable | $100,000 |
Inventory | $110,000 |
Prepaid Expenses | $25,000 |
Property, Plant & Equipment | $400,000 |
Accumulated Depreciation | $50,000 |
Accounts Payable | $90,000 |
Notes Payable | $120,000 |
Common Stock | $200,000 |
Retained Earnings | $200,000 |
Calculate the following:
- Total Assets
- Total Liabilities
- Total Equity
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