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Problem 1: A health system builds a new hospital that costs $100 million to construct and also has a December 31st fiscal year-end value of $100 million. The health system funds the construction by borrowing $80 million from a bank and using $20 million of the health system's existing cash. Construction starts February 1st and is completed by November 15th of the same year. Which statements is true about the year-end balance sheet for the fiscal year in which the hospital is built? (MULTIPLE)
A. Assets will increase by $100 million B. Assets will increase by $20 million C. Assets will increase by $80 million D. Liabilities will increase by $100 million E. Liabilities will increase by $100 million F. Liabilities will increase by $80 million G. Liabilities will increase by $20 million
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