The following items are components of a traditional balance sheet. How much are the total assets of the firm?
Plant and equipment – $40,000
Common stock – 15,000
Cash – 5,200
Inventory – 21,600
Bad debt reserve – 6,000
Additional paid-in-capital – 6,000
Accumulated depreciation – 27,000
Accounts receivable – 22,000
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The following items are components of a traditional balance sheet. How much are the total assets of the firm?
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