Question: Construct a balance sheet for Sophie's Sofas given the following data. Cash balances $14,000 Inventory of sofas $240,000 Store and property$140,000 Accounts receivable26,000 Accounts payable

Construct a balance sheet for Sophie's Sofas given the following data. Cash balances $14,000 Inventory of sofas $240,000 Store and property$140,000 Accounts receivable26,000 Accounts payable Long-term debt $21,000 $210,000 Answer is not complete. BALANCE SHEET OF SOPHIE'S SOFAS Assets Liabilities & Shareholders Equity S 14,000Accounts payable Accounts r receivable 26,000Long-term debt 210,000 240000Shareholders' equity 420,000 oal labiles& shareholders Store and property140.000 Total assets S 231000 of 4 Next> 2 3 4

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