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The Williams Model Aircraft Repair Shop started the year with total assets of $970,000, total liabilities of $540,000, and retained earnings of $200,000. During the
The Williams Model Aircraft Repair Shop started the year with total assets of $970,000, total liabilities of $540,000, and retained earnings of $200,000. During the year, the business recorded $190,000 in sales revenues, $90,000 in expenses, and the company paid no dividend.
The Williams balance of retained earnings at the end of the year was:
$100,000
$300,000
$280,000
$200,000
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