Listed below are account balances (in $millions) taken from the records of Symphony Stores. All of these are permanent accounts, except the last two that have yet to be closed. The installment receivables are current. Symphony uses a perpetual inventory system.

	Debit		Credit
Accounts receivable-trade	680
Building and equipment	920
Cash-checking	34
Installment receivables	50
Interest receivable	30
Inventory	16
Land	150
Note receivable Long-term	450
Petty cash funds	5
Prepaid expenses (for coming year)	20
Supplies	8
Trademark	40
Accounts payable-trade			560
Accumulated depreciation			80
Additional paid-in capital, common			485
Allowance for uncollectable accounts			20
Cash dividends payable			30
Common stock, at par			15
Income tax payable			65
Notes payable (long-term)			800
Retained earnings			48
Unearned revenues			40
Cash dividends declared-common	120
Income summary			380
TOTALS	2523		2523

What would Symphony report as total assets? Hint: Don t forget to deduct the contra assets.

What would Symphony report as total shareholders' equity? Hint: You will need to deduct dividends.