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1 2 3 4 5 6 All Acme Company Balance Sheet As of January 5, 2020 (amounts in thousands) Cash 9,100 Accounts Payable 1,900 Accounts
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Acme Company Balance Sheet As of January 5, 2020 (amounts in thousands) | |||
---|---|---|---|
Cash | 9,100 | Accounts Payable | 1,900 |
Accounts Receivable | 4,400 | Debt | 2,400 |
Inventory | 4,800 | Other Liabilities | 600 |
Property Plant & Equipment | 15,600 | Total Liabilities | 4,900 |
Other Assets | 2,600 | Paid-In Capital | 6,900 |
Retained Earnings | 24,700 | ||
Total Equity | 31,600 | ||
Total Assets | 36,500 | Total Liabilities & Equity | 36,500 |
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2020
1. Sell product for $25,000 with historical cost of $20,000
What is the final amount in Retained Earnings?
Note: Transaction amounts are provided in dollars but the balance sheet units are thousands of dollars.
Please specify your answer in the same units as the balance sheet (i.e., enter the number from your updated balance sheet)
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