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Construct a balance sheet for Sophie’s Sofas given thefollowing data. (Be sure to list the assets and liabilitiesin order of their liquidity.) Cash balances=$7,000 Inventory of sofas=$170,000 Store and property=$70,000 Accounts receivable=$19,000 Accounts payable=$14,000 Long-term debt=$140,000BALANCE SHEET OF SOPHIE’S SOFASAssetsLiabilities &Shareholders’ Equity (Click to select)Accounts receivableStore andpropertyInventoryShareholders’ equityLong-term debtAccountspayableCash$ (Click to select)Accounts payableShareholders’equityLong-term debtInventoryAccounts receivableStore andpropertyCash$ (Click to select)Shareholders’ equityLong-termdebtAccounts receivableStore and propertyCashAccountspayableInventory (Click to select)CashShareholders’ equityAccountsreceivableLong-term debtAccounts payableStore andpropertyInventory (Click to select)InventoryStore andpropertyAccounts receivableAccounts payableShareholders’equityCashLong-term debt (Click to select)Store and propertyCashAccountspayableAccounts receivableInventoryShareholders’ equityLong-termdebt (Click to select)Shareholders’ equityAccountsreceivableInventoryAccounts payableCashLong-term debtStore andproperty Total assets$ Total liabilities & shareholders' equity$