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Gamma Enterprises' balance sheet as of January 1, 20X73, is as follows: Account Amount Cash $410,000 Accounts Receivable $430,000 Inventory $440,000 Prepaid Expenses $245,000 Property,

Gamma Enterprises' balance sheet as of January 1, 20X73, is as follows:

AccountAmount
Cash$410,000
Accounts Receivable$430,000
Inventory$440,000
Prepaid Expenses$245,000
Property, Plant & Equipment$2,700,000
Accumulated Depreciation$520,000
Accounts Payable$540,000
Notes Payable$920,000
Common Stock$1,240,000
Retained Earnings$1,660,000

Calculate the following:

  1. Total Assets
  2. Total Liabilities
  3. Total Equity

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