Intro

You've collected the following information about a company:

Assets			Liabilities and Equity
Cash	12,000		Accounts payable	16,000
Marketable securities	2,000		Notes payable	6,000
Accounts receivable	3,000		Current liabilities
Inventory	30,000		Long-term debt	95,000
Current assets			Total liabilities
Machines	34,000		Paid-in capital	20,000
Real estate	80,000		Retained earnings
Fixed assets			Equity
Total assets			Total liab. & equity

Attempt 1/10 for 10 pts.

Part 1

What are total assets?

Attempt 1/10 for 10 pts.

Part 2

What is total equity?

Attempt 1/10 for 10 pts.

Part 3

What is retained earnings?