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Question - See the following information - Balance Sheet information
Cash $500,000
Account Payable $600,000
Long-term Debt $1,300,000
Account Receivable $1,700,000
Inventory $1,500,000
Common Stock $1,900,000
Preferred Stock $500,000
Net Fixed Assets $2,500,000
Retained Earnings $1,400,000
Accruals $500,000
Required - Calculate firm's total assets and equities?
during the year the company sold certain equipment for 285k recognizing a gain of 69k. because the controller believed
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