Company Inc. reports the following assets and liabilities. Calculate the totals that would appear in the corporation's basic accounting equation (Assets = Liabilities + Stockholders' Equity (Capital Stock)). Cash... ................$55,000 Accounts Payable...............$25,000 Office Supplies................. $1,500 Loan Payable....................$7,000 Accounts Receivable.............$10,000 Answer: Assets = Liabilities + Stockholders' Equity