Question
Gooty, Inc.'s auditors found several accounts missing from the company's financial statements: loans payable of $23,871,000 (60% of which is due in 2023); wages payable
Gooty, Inc.'s auditors found several accounts missing from the company's financial statements: loans payable of $23,871,000 (60% of which is due in 2023); wages payable of $2,947,000; retained earnings of $26,818,000; and bonds payable of $20,040,000. What effect will adding these items have on the long-term debt section of Gooty, Inc.'s 2022 balance sheet?
a) The section total will increase by $73,676,000
b) The section total will increase by $29,588,400
c) The section total will increase by $43,911,000
d) The section total will increase by $2,947,000
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