Question

Calculate the total assets, liabilities, equity, & equity Calculate the percentage that each line item contributes to the balance sheet. (i.e. normalize the values by converting the data into a common size balance sheet). Assets	Amount	Percent
Cash	$14,400.00
Inventory	$13,200.00
Supplies	$21,298.00
Prepaid Insurance	$5,300.00
Office Equipment	$26,400.00
Building	$96,048.00
Total Assets	? calculate ?
Liabilities
Accounts Payable	$32,500.00
Notes Payable	$21,800.00
Mortgage Payable	$23,400.00
Total Liabilities	? calculate ?
Owner's Equity
Capital	? calculate ?
Total Liabilities and Owner's Equity	? calculate ?

Answer 1

	Amount	Percent
Assets
Cash	14,400.00	8.15
Inventory	13,200.00	7.47
Supplies	21,298.00	12.06
Prepaid Insurance	5,300.00	3
Office Equipment	26,400.00	14.95
Building	96,048.00	54.37
Total Assets	1,76,646.00	100
Liabilities
Accounts Payable	32,500.00	18.4
Notes Payable	21,800.00	12.34
Mortgage Payable	23,400.00	13.25
		0
Total Liabilities	77,700.00	43.99
Owner's Equity
Capital	98,946.00	56.01
Total Liabilities and Owner's Equity	1,76,646.00	100

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