The following items are components of a traditional balance sheet. How much are the total assets of the firm?

The following items are components of a traditional balance sheet. How much are the total assets of the firm?

Plant and equipment - $40,000

Common stock - 15,000

Cash - 5,200

Inventory - 21,600

Bad debt reserve - 6,000

Additional paid-in-capital - 6,000

Accumulated depreciation - 27,000

Accounts receivable - 22,000

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