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Sarah Company was started last year when Sarah borrowed $175 cash from the local bank. Sarah used $150 cash to purchase inventory for $150. This
Sarah Company was started last year when Sarah borrowed $175 cash from the local bank. Sarah used $150 cash to purchase inventory for $150. This year, Sarah Company sold that inventory for $200 cash. Which ONE of the following statements is TRUE with respect to Sarah Company's balance sheet AFTER the sale of the inventory? Group of answer choices Cash is $225. Inventory is $50. Owner's Equity is $200. Liabilities is $225. Cash is $25.
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