Question: Construct a balance sheet for Sophie's Sofas given the following data, including shareholders' equity. Cash balances Inventory of sofas Store and property Accounts receivable Accounts

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

Construct a balance sheet for Sophie's Sofas given the following data, including shareholders' equity. Cash balances Inventory of sofas Store and property Accounts receivable Accounts payable Long-term debt $ 7,500 $175,000 $ 75,000 $ 19,500 $ 14,500 $145,000 Assets BALANCE SHEET OF SOPHIE'S SOFAS Liabilities & Shareholders' Equity Accounts payable Cash Inventory Accounts receivable Store and property Total assets S Total liabilities & shareholders' equity $

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