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Unformatted text preview: $42,900 Equipment $110,000 Total Assets $350,300 Liabilities and Stockholders' Equity Current Liabilities Account Payable $89,300 Mortgage Payable due next year $20,000 Property taxes Payable $4,800 Sales Commissions Payable $3,500 Interest Payable $8,000 Total Current Liabilities $125,600 Long Term Liabilities Mortagae payable $60,000 Total liabilities $185,600 Stockholders' Equity Common Stock $150,000 Retained Earning $14,700 Total Liabilities and Stockholders' equity $350,300...
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