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Use the following information on end of year account balances (as of December 31, 2015) for Warren Clinic to construct its balance sheet, keeping in
Use the following information on end of year account balances (as of December 31, 2015) for Warren Clinic to construct its balance sheet, keeping in mind the accounting identity (assets = liabilities + equity):
Accounts Payable $20,000
Accounts Receivables (net) $60,000
Cash $30,000 Equity $230,000
Long-term debt $120,000
Long-term investments $100,000
Net property and equipment $150,000
Other assets $40,000
Other long-term liabilities $10,000
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