Question 7 View Policies Show Attempt History Current Attempt in Progress Vaughn Manufacturing is a private camping ground near the Mount Miguel Recreation Area. It has compiled the December 31, 2017. Service revenue (from camping fees) $168,960 Dividends $11,520 Sales revenue (from general store) 64,000 32,000 14,080 Notes payable Expenses during 2017 Accounts payable 161,280 Cash Supplies 7,040 10,880 145,920 Equipment Common stock 51,200 Retained earnings (1/1/2017) 6,400 Vaughn Manufacturing Retained Earnings Statement For the Year Ended December 31, 2017 4 Retained Earnings, January 1 6400 Add : Net Income /(Loss) Less : Dividends Retained Earnings, December 31 : December 31, 2017 Assets Cash 10880 supplies 7040 equipment 145920 Total Assets 163840 Liabilities and Stockholders' Equity Liabilities notes payable 64000 accounts payable 14080 Total Liabilities 78080 Stockholders' Equity Common Stock 51200 Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity