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Use the following information for the next two questions. The following account balances were drawn from the records of Run&Shoot Inc. On December 31, 2013:

Use the following information for the next two questions.

The following account balances were drawn from the records of Run&Shoot Inc. On December 31, 2013:

Machine $1,500 Dividends $850

Accounts Payable $200 Accumulated Depreciation $300

Supplies $250 Accounts Receivable $100

Expenses $550 Common Stock $500

Unearned Revenue $1,000 Revenues $1,250

1. What are the total assets of Run&Shoot Inc. ?

A. $1,550

B. $2,150

C. $1,850

D. $3,000

E. $1,050

2. What are the total liabilities of Run&Shoot Inc?

A. $200

B. $1,5000

C. $800

D. $1,200

E. None of the above

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