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---- The adjusted (but pre-closing) balances of XYZ were as follows (all had normal balances) for the year ended December 31, 201 2. (Note these

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---- The adjusted (but pre-closing) balances of XYZ were as follows (all had normal balances) for the year ended December 31, 201 2. (Note these accounts are not arranged in any particular order). Sales 100,000 Interest expense 2,000 10,000 come tax expense Inventories 27,000 Accounts receivable 40,000 Buildings 145,000 Notes payable(current) 20,000 Income tax payable 10,000 Cost of goods sold 43,000 Land 72,000 Prepaid expenses 6,000 Accounts payable 20,000 Cash 7,000 Trading securities 3,000 Retained earnings (beginning) 38,000 Accu. depreciation 35,000 Selling and other expenses 16,000 Bonds payable (due2020) 98,000 Loss on sale of machine 4,000 Depreciation expense 1,000 Allowance for doubtful accounts 5,000 Common stock 50,000 Required: In the space provided, please calculate (1) total current assets; (2) total current liabilities; and (3) gross profit

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