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, including shareholders' equity. Cash balances Inventory of sofas Store and property Accounts receivable Accounts payable Long-term debt $ 5,500 $155,000 $ 55,000 $ 17,500 $ 12,500 $125,000 BALANCE SHEET OF SOPHIE'S SOFAS Liabilities & Shareholders' Equity Assets $ 0 $ Total assets 0 Total liabilities & shareholders' equity

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