Question: Construct a balance sheet for Sophie's Sofas given the following data. What is shareholders' equity? Cash balances = $10,000 Inventory of sofas = $200,000 Store

Construct a for Sophie's Sofas given the following data. What is shareholders' equity?
Cash balances = $10,000
Inventory of sofas = $200,000
Store and property = $100,000
Accounts receivable = $22,000
Accounts payable = $17,000
Long-term debt = $170,000

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