Question: Construct a balance sheet for Sophie's Sofas given the following data, including shareholders' equity. Cash balances = $ 5,500 Inventory of sofas $155, 000 Store

Construct a balance sheet for Sophie's Sofas given the following data, including shareholders' equity. Cash balances = $ 5,500 Inventory of sofas $155, 000 Store and property = $ 55, 000 Accounts receivable $ 17, 500 8 Accounts payable = $ 12, 500 Long-term debt E $125, 000 BALANCE SHEET OF SOPHIE'S SOFAS Assets Liabilities & Shareholders' Equity Total assets Total liabilities & shareholders' equity

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