How much Retained Earnings did Wolfworx have THIS YEAR?

You may on the paper given. WolfWorx uses a calendar year for accounting. Retained Earnings increased during the year by $107,000. need WolfWorx is not in the business of lending money, but did so for a friend and earned some interest. this The firm has never issued Preferred Stock or bonds. info. WolfWorx has issued 50000 shares of stock. Interest earned from loan to friend 1,380 Long-term Machinery Debt 480,000 Property Plant & Equipment 1910,000 Accounts Payable 32,000 Federal Income Tax (Paid) 39.980 Accumulated Depreciation -409,500 Depreciation Expense 43.000 Interest Expense 32,000 Common Stock 400,000 Sales 820.000 Land 1.140,000 Cost of Goods Sold 450,000 Inventory 185.000 Cash Operating Expenses 106,000 Accounts Receivable 44,000 Caste 28,500 Current Portion of Long Term Debt 136,000 Long-term Land Debt 610,000 Short-term Notes 55,000 Net Income 150 MO ?? (calc it!) Preferred Stock 0 Accruals 12,500 Retained Earnings *calculate the Retained Earnings value to make your Balance Sheet balance Tom dobt Income statement Jan I to Dec 31, 2020 Heading 820.000 100% 54.88% Sales (Revenue) (450,000) COGS Gross Revenue 390,000 Depreciation Experise 43,000 Cash Operating Ex. 106.000 Otal OP Expens 49.000 221.000 Interest Earned +1,380 (32,000) 45.12% 5.24% 12.93% 18.17% 26.95% 0.17% 3.90% EBIT (Operating Profit) Interest Exp. EBT (Taxable income) 190,380 Federa) Ircome Tax (39,980) 23.22% 4.882 150,400 18.34% Net Income December 31, 2020 Heading: LIABILITIES Current Liabilities 28.500 ASSETS Current Assets Cash Account Rec. loventory 44.000 195.000 Accounts Pay. 32.000 Short-term coles 55.000 Current Partian long term Jeht 36.000 Accruals 12.500 Total Current Liabilites 135.500 Total Current Assets 257.500 NonCurrent Liabilities NonCurrent Assets 100,000 2.7. Machinery D264 480,000 L.T. Land Debt (10.000 Land Procesty Plan & Eque Al Depreciatibo 910.000 (404300 Total NonCurrent Assets Total NonCurrent Liabilites 1,090,000 1.640, 500 TOTAL LIABILITIES 1.225 500 1.898.000 TOTAL ASSETS OWNERS EQUITY Common Stock Loo,000 Retained Earnings 272500 TOTAL OW EQUITY 672,500 1,898,000 TOTAL LIAB AND O.E