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Based on the Mighty Macs Fitness 12/31/2025 balance sheet (Exhibit 2), which sta...

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Based on the Mighty Macs Fitness 12/31/2025 balance sheet (Exhibit 2), which statement is correct?

Mighty Macs Fitness earned $8 million during the year

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Mighty Macs Fitness has more debt than equity

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Total assets were financed by $7 million of liabilities and $8 million of equity

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Mighty Macs Fitness has a market value of exactly $8 million

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