Construct a Balance Sheet for Sophie’s Sofas

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Sophie’s Sofas

 

Construct a Balance Sheet for Sophie’s Sofas given the following data.  Make sure you include owner’s equity.

 

Cash = $10k

 

Inventory of Sofas = $200k

 

Store & Property = $100k

 

Accounts receivable = $22k

 

Accounts payable = $17k

 

Long-term debt = $170k

 

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