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You've collected the following information about a company: Assets Liabilities and Equity Cash 12,000 Accounts payable 20,000 Marketable securities 2,000 Notes payable 6,000 Accounts receivable
You've collected the following information about a company:
Assets | Liabilities and Equity | |||
Cash | 12,000 | Accounts payable | 20,000 | |
Marketable securities | 2,000 | Notes payable | 6,000 | |
Accounts receivable | 6,000 | Current liabilities | ||
Inventory | 36,000 | Long-term debt | 95,000 | |
Current assets | Total liabilities | |||
Machines | 34,000 | Paid-in capital | 20,000 | |
Real estate | 80,000 | Retained earnings | ||
Fixed assets | Equity | |||
Total assets | Total liab. & equity |
Part 1: What are total assets?
Part 2: What is total equity?
Part 3: What is retained earnings?
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