Lakecraft Company Balance Sheet December 31, 2015 Assets Liabilities and Equity $ 60,000 $100,000 200,000 Current assets Current liabilities . . Equipment (net) Building (net) Stockholders' equity: Common stock ($5 par) . Retained earnings. 270,000 $100,000 410,000 510,000 Total assets.. $570,000 Total liabilities and equity $570,000

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