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The bookkeeper for Andy's Country Music Bar went insane and left this incomplete balance sheet. Andy's working capital is $95,000 and its debt to assets ratio is 40 percent.
Assets
Current assets
Cash
$ 21,000
Accounts receivable
42,000
Inventory
(A)
Prepaid items
9,000
Total current assets
(B)
Long-term assets
Building
(C)
Less: Accumulated depreciation
(39,000)
Total long-term assets
210,000
Total assets
$ (D)
Liabilities and Stockholders' Equity
Liabilities
Current liabilities
Accounts payable
$ (E)
Notes payable
12,000
Income tax payable
10,500
Total current liabilities
37,500
Long-term liabilities
Mortgage payable
(F)
Total liabilities
(G)
Stockholders' equity
Common stock
105,000
Retained earnings
(H)
Total stockholders' equity Total liabilities and stockholders' equity
(I) $ (J)
Required
Complete the balance sheet by supplying the missing amounts.
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