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64. The accountant for Taryn Corporation prepared the following list of account balances from the companys records for the year ended December 31, 2017: Sales
64.
The accountant for Taryn Corporation prepared the following list of account balances from the companys records for the year ended December 31, 2017:
Sales revenue | $165,000 | Cash | $ 30,000 | ||
Accounts receivable | 14,000 | Selling expenses | 44,000 | ||
Equipment | 42,000 | Common stock | 41,000 | ||
Accounts payable | 12,000 | Interest income | 3,000 | ||
Salaries and wages expense | 40,000 | Cost of sales | 51,000 | ||
Inventories | 22,000 | Prepaid expenses | 2,000 | ||
Income taxes payable | 5,000 | Income taxes expense | 18,000 | ||
Notes payable | 20,000 | Retained earnings | ? |
Read the information for Taryn Corporation and determine the following amounts.
A) | The balance of retained earnings at the end of 2017. | |
B) | The total stockholders equity at the end of 2017. | ___________________________ |
C) | Name the two events that might cause stockholders equity to increase. |
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