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Acme Company Balance Sheet As of January 5, 2019 (amounts in thousands) Cash 12,500 Accounts Payable 2,400 Accounts Receivable 3,600 Debt 3,700 Inventory 5,200 Other
Acme Company Balance Sheet As of January 5, 2019 (amounts in thousands) | |||
---|---|---|---|
Cash | 12,500 | Accounts Payable | 2,400 |
Accounts Receivable | 3,600 | Debt | 3,700 |
Inventory | 5,200 | Other Liabilities | 3,000 |
Property Plant & Equipment | 16,700 | Total Liabilities | 9,100 |
Other Assets | 600 | Paid-In Capital | 5,600 |
Retained Earnings | 23,900 | ||
Total Equity | 29,500 | ||
Total Assets | 38,600 | Total Liabilities & Equity | 38,600 |
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2019
1. Sell product for $35,000 with historical cost of $28,000 2. Sell product for $20,000 with historical cost of $16,000 3. Sell product for $25,000 with historical cost of $20,000
What is the final amount in Retained Earnings?
Please specify your answer in the same units as the balance sheet.
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