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Santana Rey has consulted with her local banker and is considering financing an expansion of her business by obtaining a long-term bank loan. Selected account

Santana Rey has consulted with her local banker and is considering financing an expansion of her business by obtaining a long-term bank loan. Selected account balances at March 31, 2012, for Business Solutions follow. Total assets $121,168 Total liabilities $866 Total equity $120,302 Required: 1. The bank has offered a long-term secured note to Business Solutions. The bank

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