Question: Balance Sheet. Construct a balance sheet for Sophie's Sofas given the following data. What is shareholders' equity? ( LO 3 - 1 ) Cash balances

Balance Sheet. Construct a balance sheet for Sophie's Sofas given the following data. What is
shareholders' equity? (LO3-1)
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
Balance Sheet. Construct a balance sheet for Sophie's Sofas given the

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