40 41 Task 2 Task 2 42 Balance Sheet Table 2 below provides a 43 Current Assets valuation of the assets and 44 liabilities of a sport and 45 recreation club at the end of the 46 year. You are not given which 47 items are assets and which are 48 liabilities. Work out the value of 49 the business at the end of the 50 year. The figure that you work out will in fact be the Ownership Equity. 51 52 53 54 55 56 57 58 59 60 61 Total Current Assets Fixed Assets $ Total Fixed Assets $ Total Assets $ Short Term Liabilities Total Short Term $ Liabilities Long Term Liabilities Total Long Term Liabilities Total Liabilities $ $ Table 2 Your Information Motor Vehicles $25,000, Car Loan $30,000, Bicycle Inventory $15,000, Accounts Payable $11,000, Equipment Loan $3,500, Cash $28,000, Equipment $22,000, Accounts Receivable $5,000