Question: Construct a balance sheet for Sophie's Sofas given the following data. Cash balances Inventory of sofas Store and property Accounts receivable Accounts payable Long-term debt

Construct a balance sheet for Sophie's Sofas given the following data.

Construct a balance sheet for Sophie's Sofas given the following data. Cash balances Inventory of sofas Store and property Accounts receivable Accounts payable Long-term debt = = = = = = $ 10,000 $200,000 $100,000 $ 22,000 $ 17,000 $170,000 BALANCE SHEET OF SOPHIE'S SOFAS Liabilities & Shareholders' Equity Assets Total assets Total liabilities & shareholders' equity

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