Question: Construct a balance sheet for Sophie's Sofas given the following data, including shareholders' equity. Cash balances $ 7,000 Inventory of sofas $ 170,000 Store and

Construct a balance sheet for Sophie's Sofas given the following data, including shareholders' equity.

Cash balances $ 7,000
Inventory of sofas $ 170,000
Store and property $ 70,000
Accounts receivable $ 19,000
Accounts payable $ 14,000
Long-term debt $ 140,000

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