Question
The company's end-of-year balance sheet consisted of the following amounts: Cash $78000 Accounts Receivable $280000 Property, plant & Equipment 390000 Long-term debt 200,000 Capital Stock
The company's end-of-year balance sheet consisted of the following amounts:
Cash $78000 Accounts Receivable $280000
Property, plant & Equipment 390000 Long-term debt 200,000
Capital Stock 500,000 Accounts payable 100,000
Retained Earnings ? Inventory 160000
Refer to the company's financial information above and determine the retained earnings balance at the end of the current year.
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Information Systems Control And Audit
Authors: Et Al. Hyo-Jeong Kim, Michael Mannino, Compiled By Koros Press Editorial Board
1st Edition
1781639426, 978-1781639429
