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I cannot seem to find an answer for the remaining portion of this question - retained earnings? Can someone elaborate and show how they got
I cannot seem to find an answer for the remaining portion of this question - retained earnings? Can someone elaborate and show how they got to their conclusion? The last 3 boxes in blue.
At December 31, 2018, Williams Products has cash of $26,000, receivables of $17,000, and inventory of $82,000. The company's equipment totals $187,000. Williams owes accounts payable of $27,000 and long-term notes payable of $173,000. Common stock is $33,500.
At December 31, 2018, Williams Products has cash of $26,000, receivables of $17,000, and inventory of $82,000. The company's equipment totals $187,000. Williams owes accounts payable of $27,000 and long-term notes payable of $173,000. Common stock is $33,500. Read the requirement. 27,000 Cash Receivables Inventory 173,000 200,000 Total current assets $ 26,000 Accounts payable 17,000 Long-term liabilities: 82,000 Long-term notes payable Total liabilities 125,000 Stockholders' equity Common stock Retained earnings 187,000 Total stockholders' equity 312,000 Total liabilities and stockholders' equity 33,500 Equipment Total assetsStep by Step Solution
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