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Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $160,000 Accounts Payable $50,000 Accounts Receivable $120,000 Notes Payable $60,000 Inventory $140,000 Long-term Debt $180,000 Equipment

Assets

Amount (USD)

Liabilities and Equity

Amount (USD)

Cash

$160,000

Accounts Payable

$50,000

Accounts Receivable

$120,000

Notes Payable

$60,000

Inventory

$140,000

Long-term Debt

$180,000

Equipment

$350,000

Shareholders' Equity

$450,000

Determine the total assets and total liabilities & equity based on the given balance sheet.

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