Consider RST Company with the following assets: Cash $180,000, Accounts Receivable $100,000, Inventory $80,000, and Property, Plant, and Equipment $700,000. Liabilities include Accounts Payable $150,000 and Long-Term Debt $500,000. Prepare a balance sheet for RST Company, detailing assets, liabilities, and owner's equity in bullet points.

• Assets:

  • Cash: $180,000
  • Accounts Receivable: $100,000
  • Inventory: $80,000
  • Property, Plant, and Equipment: $700,000

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  Total Assets: $1,060,000

• Liabilities:

  • Accounts Payable: $150,000
  • Long-Term Debt: $500,000

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  Total Liabilities: $650,000

• Owner's Equity:

  • Total Assets - Total Liabilities
  • $1,060,000 - $650,000

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  Owner's Equity: $410,000