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The following accounting equation represents the financial position of Qualtro Company. Assets = Liabilities + Stockholders' Equity Cash + Land = Notes Payable + Common

The following accounting equation represents the financial position of Qualtro Company.

Assets

=

Liabilities

+

Stockholders' Equity

Cash

+

Land

=

Notes Payable

+

Common Stock

+

Retained Earnings

620 + 3, 300 = 1, 240 + 1, 750 + 930

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