Question
Bournemouth, Inc. operates the Vitality amusement park. Bournemouth began the month with $263 of assets, $200 of liabilities, and $50 of common stock. Retained earnings
Bournemouth, Inc. operates the Vitality amusement park. Bournemouth began the month with $263 of assets, $200 of liabilities, and $50 of common stock. Retained earnings is Bournemouth's only other stockholders' equity account.
During the month, Bournemouth completed the following transactions:
Sold admission tickets, $128 cash
Purchased supplies on account, $10
Paid employee wages, $58 cash
Borrowed money from a bank with a 3-year note, $100
Assuming no dividends were declared, what is Bournemouth's ending balance in retained earnings at the end of the month? Please enter your answer as a whole number without a dollar sign (e.g., 100).
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