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Tommer Corporation ended its fiscal year on September 30, 2018, with cash of $73 million, accounts receivable of $28 million, property and equipment of $32
Tommer Corporation ended its fiscal year on September 30, 2018, with cash of $73 million, accounts receivable of $28 million, property and equipment of $32 million, and other long-term assets of $19 million. The company's liabilities consist of accounts payable of $39 million and long-term notes payable of $20 million. Tommer Corporation has total stockholders' equity of $93 million; of this total, common stock is $28 million. Solve for the company's ending retained earnings and then prepare Tommer Corporation's balance sheet at September 30, 2018. 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 $ m million illi
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