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Bailey Company had the following year-end balances in their accounts: Total Assets $157,000 Total Liabilities 83,500 Total Contributed Capital 30,000 Total Retained Earnings ? Total
Bailey Company had the following year-end balances in their accounts:
Total Assets $157,000
Total Liabilities 83,500
Total Contributed Capital 30,000
Total Retained Earnings ?
Total Revenues 93,700
Total Expenses 72,400
Total Dividends 5,000
What was Bailey Companys BEGINNING Retained Earnings?
a. $27,200
b. $21,300
c. $43,500
d. Cannot be determined from the information given.
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