Construct a balance sheet for Sophie’s Sofas given the following data. (Be sure to list the...

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Finance

Construct a balance sheet for Sophie’s Sofas given thefollowing data. (Be sure to list the assets and liabilitiesin order of their liquidity.)

  Cash balances = $ 7,000
  Inventory of sofas = $ 170,000
  Store and property = $ 70,000
  Accounts receivable = $ 19,000
  Accounts payable = $ 14,000
  Long-term debt = $ 140,000

BALANCE SHEET OF SOPHIE’S SOFAS
Assets Liabilities &Shareholders’ Equity
  (Click to select)Accounts receivableStore andpropertyInventoryShareholders’ equityLong-term debtAccountspayableCash $      (Click to select)Accounts payableShareholders’equityLong-term debtInventoryAccounts receivableStore andpropertyCash $
  (Click to select)Shareholders’ equityLong-termdebtAccounts receivableStore and propertyCashAccountspayableInventory      (Click to select)CashShareholders’ equityAccountsreceivableLong-term debtAccounts payableStore andpropertyInventory
  (Click to select)InventoryStore andpropertyAccounts receivableAccounts payableShareholders’equityCashLong-term debt      (Click to select)Store and propertyCashAccountspayableAccounts receivableInventoryShareholders’ equityLong-termdebt
  (Click to select)Shareholders’ equityAccountsreceivableInventoryAccounts payableCashLong-term debtStore andproperty
  Total assets $      Total liabilities & shareholders' equity $

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Construct a balance sheet for Sophie’s Sofas given thefollowing data. (Be sure to list the assets and liabilitiesin order of their liquidity.) Cash balances=$7,000 Inventory of sofas=$170,000 Store and property=$70,000 Accounts receivable=$19,000 Accounts payable=$14,000 Long-term debt=$140,000BALANCE SHEET OF SOPHIE’S SOFASAssetsLiabilities &Shareholders’ Equity (Click to select)Accounts receivableStore andpropertyInventoryShareholders’ equityLong-term debtAccountspayableCash$ (Click to select)Accounts payableShareholders’equityLong-term debtInventoryAccounts receivableStore andpropertyCash$ (Click to select)Shareholders’ equityLong-termdebtAccounts receivableStore and propertyCashAccountspayableInventory (Click to select)CashShareholders’ equityAccountsreceivableLong-term debtAccounts payableStore andpropertyInventory (Click to select)InventoryStore andpropertyAccounts receivableAccounts payableShareholders’equityCashLong-term debt (Click to select)Store and propertyCashAccountspayableAccounts receivableInventoryShareholders’ equityLong-termdebt (Click to select)Shareholders’ equityAccountsreceivableInventoryAccounts payableCashLong-term debtStore andproperty Total assets$ Total liabilities & shareholders' equity$


Cash balances	=	$	7,000
Inventory of sofas	=	$	170,000
Store and property	=	$	70,000
Accounts receivable	=	$	19,000
Accounts payable	=	$	14,000
Long-term debt	=	$	140,000

BALANCE SHEET OF SOPHIE’S SOFAS
Assets		Liabilities &Shareholders’ Equity
(Click to select)Accounts receivableStore andpropertyInventoryShareholders’ equityLong-term debtAccountspayableCash	$	(Click to select)Accounts payableShareholders’equityLong-term debtInventoryAccounts receivableStore andpropertyCash	$
(Click to select)Shareholders’ equityLong-termdebtAccounts receivableStore and propertyCashAccountspayableInventory		(Click to select)CashShareholders’ equityAccountsreceivableLong-term debtAccounts payableStore andpropertyInventory
(Click to select)InventoryStore andpropertyAccounts receivableAccounts payableShareholders’equityCashLong-term debt		(Click to select)Store and propertyCashAccountspayableAccounts receivableInventoryShareholders’ equityLong-termdebt
(Click to select)Shareholders’ equityAccountsreceivableInventoryAccounts payableCashLong-term debtStore andproperty

Total assets	$	Total liabilities & shareholders' equity	$