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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:

AccountAmount
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:

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

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