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What are the company total liabilities

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Reference no: EM132891100

Use the following information to answer the questions. A company reports the following on its balance sheet:

Cash: $10,000,

Accounts receivable: $20,000 Inventory: $14,000

Prepaid expenses: $3,000

Property, plant, and equipment: $35,000

Accumulated depreciation: $2,000

Accounts payable: $5,000

Accrued expenses: $6,000

Short-term notes: $7,000

Long-term notes: $10,000

Capital stock: $40,000

Retained earnings: $12,000

Problem a) What are the company's total liabilities?

Problem b) What is the company's total equity?

Reference no: EM132891100

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