Balance Sheet Chuck Enterprises has current assets of 300,000 and total assets of 750,000 It also has current liabilities of 125,000 common equity of 250,000 and retained earnings of 85,000 How much long-term debt and fixed assets does the firm have?

To find the long-term debt and fixed assets, we can use the accounting equation: Given:- Total Assets = 300,000- Current Liabilities = 250,000- Retained Earnings = 335,000\]Next, calculate the Total Liabilities: 335,000 = 290,000\]Finally, calculate the Fixed Assets: 300,000 = 290,000 in long-term debt and $450,000 in fixed assets.