Ramsey Corporation reported the following accounts and liabilities and balances in its financial statement.Cash=$35,000Inventory=$10,200Equipment=$19,500Accounts Payable=$16,350Contributed capital=$30,000Retained earnings=$18,350Arrange the acounts and balances into the accounting equation using the following equation and then answer the following questions_Assets=liabilities + owners’ equity1. What is the total amount of assets?2. What is the total amount of liabilites?3. What is the total amount of owners’ equity?
