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A shoe company has $16,000 in amounts owed to them by their customers, and the company owes $33,000 to its suppliers. They have $61,500 in
A shoe company has $16,000 in amounts owed to them by their customers, and the company owes $33,000 to its suppliers. They have $61,500 in working capital. The company has $40,250 in inventory, $53,000 in long-term debt, and $38,250 in cash. Their fixed assets have a book value of $100,000, net of depreciation, and a market value of $130,000, net of depreciation. The company's retained earnings are $50,000. Using this information, prepare a balance sheet for this company, with the proper format
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