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QUESTION

The statement below shows a condensed, but incomplete version of a company's balance sheet. Assuming cash is zero, complete the company's balance...

The statement below shows a condensed, but incomplete version of a company's balance sheet. Assuming cash is zero, complete the company's balance sheet. (No other information is provided).

COMPANY BALANCE SHEET

Assets

Current Assets

  • Cash ???
  • Accounts Receivable $1,500,000
  • Other current assets $550,000

Total Current Assets: ???

Fixed Assets: $6,075,000

  • Goodwill $300,000

Total Assets ???

Liabilities

Current Liabilities

  • Notes Payable ???
  • Other current liabilities $150,000

Total Current Liabilities ???

Long Term Debt $2,015,000

Shareholder's Equity $3,600,000

Total Liabilities and Shareholder's Equity ???

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