2. Last year Sun Skateboards had $80,000 in current assets (20%cash, 3

2. Last year Sun Skateboards had $80,000 in current assets (20%cash, 30% accounts receivable, 40% inventory and 10% pre-paid expenses); $47,000 in current liabilities and $25,000 in long term debt. It had $61,000 in fixed assets. Determine the amount of shareholder’s equity and construct a balance sheet for Sun Skateboards.

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