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Financial Accounting

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Balance Sheet Long-term Liabilities Calculated

FINACT-WGNAYE

Rain Company has provided the following information on its balance sheet:

Total Current Assets \$20,000
Total Noncurrent Assets \$53,500
Total Current Liabilities \$32,600
Total Shareholder's Equity \$30,000


Using the balances given above, how much is the total of long-term liabilities?

A

\$73,500

B

\$62,600

C

\$40,900

D

\$10,900