What is the balance for long-term debt and retained earnings

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Reference no: EM131625361

Glen’s Tobacco Shop has total assets of $96.4 million. Fifty percent of these assets are financed with debt of which $30.0 million is current liabilities. The firm has no preferred stock but the balance in common stock and paid-in surplus is $20.4 million.

What is the balance for long-term debt and retained earnings on Glen’s Tobacco Shop’s balance sheet?

Reference no: EM131625361

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