Short Answer
Calculate the total of (A)current assets, (B)plant assets, and (C)stockholders' equity.
Cash $7,000, common stock $21,000, retained earnings $41,000, prepaid rent $21,000, accounts payable $2,300, accounts receivable $4,000, merchandise inventory $18,000, total liabilities $10,800, land $25,000, building $1,900.
Correct Answer:

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A. $7,000 + $21,000 + $4,000 +...View Answer
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