Question: Kraus Company Balance Sheet as of December 31, 2010 Cash $ 80,000 The following balance sheet was prepared by Kraus Company as of December 31, 2010. Kraus Company Balance Sheet as of December 31, 2010 Cash $ 80,000                Accounts payable $ 75,000 Accounts receivable (net) 52,200                Long-term liabilities 100,000 Inventories 57,000                Stockholders’ equity 218,500

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