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Prepare a detailed balance sheet for Facebook, Inc. as of December 31, 2023. Include the following data: cash $200,000, accounts receivable $400,000, inventory $250,000, equipment
- Prepare a detailed balance sheet for Facebook, Inc. as of December 31, 2023. Include the following data: cash $200,000, accounts receivable $400,000, inventory $250,000, equipment $1,000,000 (net of depreciation), accounts payable $100,000, long-term debt $600,000, common stock $300,000, and retained earnings $850,000. Discuss the implications of each item on the company’s financial health.
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