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Acme Company Balance Sheet As of January 5, 2020 (amounts in thousands) 8,400 Accounts Payable Cash 2,800 4,700 Debt 3,400 Accounts Receivable 4,200 Other Liabilities
Acme Company Balance Sheet As of January 5, 2020 (amounts in thousands) 8,400 Accounts Payable Cash 2,800 4,700 Debt 3,400 Accounts Receivable 4,200 Other Liabilities 900 Inventory Property Plant & Equipment 17,200 Total Liabilities 7,100 Other Assets 2,800 Paid-In Capital 6,700 Retained Earnings 23,500 Total Equity 30,200 37,300 Total Liabilities & 37,300 Equity Total Assets 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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