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

Construct a balance sheet for Sophies 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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