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Murphy Corporation's end-of-year balance sheet consisted of the following amounts: Cash $ 35,000 Accounts receivable $46,000 Property, plant, and equipment 69,000 Long-term debt 41,000 Capital
Murphy Corporation's end-of-year balance sheet consisted of the following amounts:
| Cash | $ 35,000 | Accounts receivable | $46,000 | |
| Property, plant, and equipment | 69,000 | Long-term debt | 41,000 | |
| Capital stock | 107,000 | Accounts payable | 22,000 | |
| Retained earnings | ? | Inventory | 33,000 |
What is Murphy's owners' equity balance at the end of the current year?
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Auditing And Assurance Services An Integrated Approach
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan
18th Edition
0137879199, 9780137879199
