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Anthony Walker, the CFO of Sandhill Automotive, Inc., is putting together this year's financial statements. He has gathered the following balance sheet information: The firm
Anthony Walker, the CFO of Sandhill Automotive, Inc., is putting together this year's financial statements. He has gathered the following balance sheet information: The firm had a cash balance of $25,000, accounts payable of $165,200, common stock of $315,200, retained earnings of $514,200, inventory of $214,400. goodwill and other assets equal to $80,700, net plant and equipment of $713,200, and short-term notes payable of $23,100. It also had accounts receivable of $143,200 and other current assets of $13,200. How much long-term debt does Sandhill Automotive have? Long-term debt $
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