A Successful Discount Retail Store Such as Wal-Mart Would Probably

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The Answer is b Use the following information to Answer: questions Acme Auto Supplies Balance Sheet December 31,2007 Cash $ 60,000 Accounts Payable $ 65,000 Prepaid Insurance 40,000 Salaries Payable 10,000 Accounts Receivable 50,000 Mortgage Payable 90,000 Inventory 70,000 Total Liabilities $165,000 Land held for investment 80,000 Land 95,000 Building $100,000 Common Stock $120,000 Less Accumulated Retained Earnings 250,000 Depreciation 30,000) 70,000 Total stockholders' equity $370,000 Trademark 70,000 Total Liabilities and Total Assets $535,000 Stockholders' Equity $535,000

A Successful Discount Retail Store Such as Wal-Mart Would Probably

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