Homework Answers
Total Liabilities and Shareholder's Equity = Total Assets
Total Assets = Land + Equipment + Building + Account Receivable + Cash
= $36,000 + $35,800 + $82,700 + $4,750 + $15,150
= $174,400
Total Assets = $174,400
Therefore,
Total Liabilities and Shareholder's Equity = $174,400
Option (2) is a correct answer
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