This company's balance sheet has the following information; Cash = $5,000, Account Receivable = $2,000, Inventory = $10,000, Supplies = $2,000, Plant = $30,000, Equipment = $20,000, Intellectual Property = $2,500. Trades Payable = $2,000, Income Tax Payable = $3,000, Short-Term Debt = $5,000, long-Term Debt = $15,000, Bonds = $10,000, Common Stock = ???? and Retained Earnings = $20,000 Create a Simplified Balance Sheet for this company from the financial information provided above.

Question 2 options:

Total Fixed Assets = $55,200

Total Equity = $46,000

Total Debt & Owner's Equity = $61,500

Total Assets = $71,500