Wok N Roll, Inc. shows $300,000 of assets and $60,000 of shareholders' equity on its balance sheet. Liabilities must equal ________. I know the answer is $240,000 but I have no idea how to get it. On July 1, Team Shirts paid $600 for three months' worth of advertising beginning on July 1. What is Advertising expense for the MONTH ended August 31? know the answer is $200, what is the equation Mia Hero, Inc. had a retained earnings balance of $7,000 on December 31, 2011. For the year 2012, sales revenues are $15,000 and expenses are $13,000. If no dividend is declared or paid in 2012, retained earnings at December 31, 2012 equals ________. How do you set this up. I know its $9,000