(Answered) Question - national shops inc reported the following

Accounting

Question - National Shops, Inc. reported the following amounts on its balance sheet as of December 31, 2010:

Inventory $325,000

Notes payable 100,000

Cash 150,000

Contributed capital 250,000

Equipment 700,000

Accumulated depreciation 600,000

Accounts receivable 30,000

Accounts payable 45,000

Retained earnings 210,000

Requirements:

1. What is the amount of National's total assets?

2. What is the amount of National's total liabilities?

3. What is the amount of National's stockholders' equity?

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