Just before Anderson Laboratories opened for business, Roy Anderson, the owner, had the following assets and liabilities. Determine the totals that would appear in the firm's fundamental accounting equation (Assets = Liabilities + Owner's Equity).
Cash .....................................$40,500
Laboratory Equipment ..................75,600
Laboratory Supplies ......................6,800
Loan Payable ............................15,100
Accounts Payable ........................9,875