Question No. (8) (5 minutes): A- Following is the balance sheet for Abbot Box Company, Inc.: Abbot Box Company, Inc. Balance Sheet December 31, 2009 Assets Liabilities Cash $ 8,000 Accounts payable $16,000 Accounts receivable 1,000 Land 14.000 Stockholders' Equity Building 44,000 Common stock S40,000 Equipment 13.000 Retained eamings 24.000 Total stockholders equity 64,000 Total liabilities and Total assets 580.000 stockholders' equity $80.000 If on 1 January 2010, the balance in the Cash account were used to pay part of Accounts Payable, Calculate the total Liabilities and Equity? B- Following is the balance sheet for Manchester Company, Inc.: Manchester Company, Inc. Balance Sheet December 31, 2009 Assets Liabilities cash $ 2,000 Accounts payable $3,000 Accounts receivable 1,000 Land 10,000 Stockholders' Equity building 50,000 Common stock 560,000 equipment 20,000 Retained eamings 20.000 Total stockholders equity Total liabilities and Total assets $83.000 stockholders' equity 80,000 $83.000 If on 1 January 2010, the balance in the Cash account were used to buy more equipment, Calculate the total Liabilities and Equity