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Tommer Corporation ended its fiscal year on September 30, 2016, with cash of $80 millon, accounts receivable of $26 million, property and equipment of $31
Tommer Corporation ended its fiscal year on September 30, 2016, with cash of $80 millon, accounts receivable of $26 million, property and equipment of $31 million and other long-term assets of $15 million. The company's liabilities consist of accounts payable of $35 million and long-term notes payable of $18 illion. Tommer Corporation has total stockholders' equity of $99 million; of this total, common stock is $29 million. Solve for the company's ending retained earnings and then prepare Tommer Corporation's balance sheet at September 30, 2016. Use a proper heading on the balance sheet. Begin by solving for the company's ending retained earnings. (Enter your answer in millions) Tommer Corporation's ending retained earnings balance is S million
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