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Please provide a written out by hand solution for the above example. 1.13) Matbach Industries has $870,000 in current assets and $430,000 in fixed assets
Please provide a written out by hand solution for the above example.
1.13) Matbach Industries has $870,000 in current assets and $430,000 in fixed assets less $180,000 in accumulated depreciation. The firm's current liabilities total $330,000 and long-term liabilities $115,000. If the firm's stock and capital surplus total $305,000, what is the value for retained earnings? a. 370,000 b. 980,000 c. 1,160,000 d. 1,340,000Step by Step Solution
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