Busi 530 Corporate Finance Mcgraw Hill Connect Home Work 2

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    Home>Business & Finance homework helpConstruct a balance sheet for Sophie’s Sofas given the following data. (Be sure to list the assets and liabilities in order of their liquidity.) Cash balances=$12,500 Inventory of sofas=$225,000 Store and property=$125,000 Accounts receivable=$24,500 Accounts payable=$19,500 Long-term debt=$195,000 BALANCE SHEET OF SOPHIE’S SOFAS Assets Liabilities & Shareholders’ Equity Cash $ 12,500 Accounts payable $ 19,500 Accounts receivable 24,500 Long-term debt 195,000 Inventory 225,000 Shareholders’ equity 172,500 Store & property 125,000 Total assets$ 387,000 Total liabilities & Shareholders’ equity$ 387,000

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