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Laredo company reported total assets of $7 million and total liabilities of $4 million at the end of 20X0. Construct the balance sheet equation for

Laredo company reported total assets of $7 million and total liabilities of $4 million at the end of 20X0.

Construct the balance sheet equation for Laredo Company at the end of 20X0 and include the correct amount for owners equity.

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