Glens Tobacco Shop has total assets of $91.8 million. Fifty percent of these assets are...
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Accounting
Glens Tobacco Shop has total assets of $91.8 million. Fifty percent of these assets are financed with debt of which $28.9 million is current liabilities. The firm Page 44has no preferred stock but the balance in common stock and paid-in surplus is $20.4 million. Using this information, what is the balance for long-term debt and retained earnings on Glens Tobacco Shops balance sheet?
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