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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 ???
