On December 31, 1999, Perez Company had assets of $150,000, liabilities of $97,500. and capital stock of

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On December 31, 1999, Perez Company had assets of $150,000, liabilities of $97,500. and capital stock of $30,000. During 2()(K). Perez earned revenues of $45,000.

a. Compute the company's retained earnings on December 31. 1999.

b. Compute the company's retained earnings on December 31. 2000.

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Accounting A Business Perspective

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Authors: Roger H. Hermanson, James Don Edwards, Michael W. Maher

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On December 31, 1999, Perez Company had assets of $150,000, liabilities of $97,500. and capital stock of

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