Question: Utilizing the balance sheet data of SABIC (Saudi Basic Industries Corporation) as of December 31, 2023, provided below, prepare a balance sheet in SAR, ensuring

Utilizing the balance sheet data of SABIC (Saudi Basic Industries Corporation) as of December 31, 2023, provided below, prepare a balance sheet in SAR, ensuring proper classification of assets, liabilities, and equity items. Include calculations for total assets, total liabilities, and shareholders' equity.

Asset

Amount (SAR)

Liability and Equity

Amount (SAR)

Cash

2,000,000

Accounts Payable

500,000

Accounts Receivable

1,500,000

Long-Term Debt

3,000,000

Inventory

3,000,000

Common Stock

4,000,000

Property, Plant, and Equipment

10,000,000

Retained Earnings

6,000,000

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