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Glen’s Tobacco Shop has total assets of $95.6 million. Fifty percent of these assets are financed...

Glen’s Tobacco Shop has total assets of $95.6 million. Fifty percent of these assets are financed with debt of which $29.8 million is current liabilities. The firm has no preferred stock but the balance in common stock and paid-in surplus is $18.4 million. What is the balance for long-term debt and retained earnings on Glen’s Tobacco Shop’s balance sheet?

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