Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $450,000 Accounts Payable $160,000 Accounts Receivable $280,000 Notes
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Assets | Amount (USD) | Liabilities and Equity | Amount (USD) |
Cash | $450,000 | Accounts Payable | $160,000 |
Accounts Receivable | $280,000 | Notes Payable | $220,000 |
Inventory | $280,000 | Long-term Debt | $450,000 |
Equipment | $900,000 | Shareholders' Equity | $1,200,000 |
Determine the total assets and total liabilities & equity based on the given balance sheet.
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