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Cash $20,000.00
A/R $70,000.00
Inventory $100,000.00
A/P(Short Term) $160,000.00
Bonds Payable (long term debt) $400,000.00
Common Stock (Outstanding Shares 1,000) $30,000.00
Retained Earnings $180,000.00
Fixed Assets $580,000.00
Problem 1: Calculate Total Liabilities and Owners Equity.
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