XYZ Inc. has the following information about its assets and liabilities as of December 31, 2022:

• Cash: $50,000
• Accounts receivable: $20,000
• Inventory: $30,000
• Equipment: $80,000
• Accumulated depreciation on equipment: $20,000
• Accounts payable: $25,000
• Long-term debt: $60,000
• Common stock: $50,000
• Retained earnings: $25,000

Calculate the company's total assets, total liabilities, and total equity as of December 31, 2022.

Answer rating: 100% (QA)

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