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Required information [The followng information applics to the questions displayed below] TangoCo is developing its annual financial statements for the current year. The following amounts

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Required information [The followng information applics to the questions displayed below] TangoCo is developing its annual financial statements for the current year. The following amounts were correct at December 31 , current year cash, $49,100; investment in stock of Plt Corporation flongterm). $36,700, store equipment, $67,500; accounts receivable, \$72,120; inventory, \$157000; prepaid rent, \$1,150; used store equipment heid for disposal $10,100; accumulated depreciation, store equipment, $13,470; income taxes payable, $10,100; long term note payable, $32,300, accounts payable, $59,100, retained earnings, $165,400, and common stock, 103,000 shares outstanding. pat value $1 per share (originally sold and issued at $110 per share). Required: 1. Based on these data, prepare a December 31 , current year, balance sheet. Note: Amounts to be deducted should be indicated by a minus sign. Required information Prey

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