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OpenStudy (anonymous):
You own a store that sells video games. You owe $25,000.00 to video game vendors; you have a ten-year bank loan of $50,000.00; your bank account balance is $13,000.00; you own inventory worth $57,000.00; you have $2,000.00 in account receivable; and fixed assets are $22,000.00. What are your total assets, liabilities, and owner’s equity?
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