The Baldwin Company currently has the following balances on their balance sheet: Total Liabilities....................$141,098 Common Stock.....................$53,234 Retained

Question:

The Baldwin Company currently has the following balances on their balance sheet:

Total Liabilities....................$141,098

Common Stock.....................$53,234

Retained Earnings................$37,566

Suppose next year the Baldwin Company generates $36,500 in net profit and pays $15,000 in dividends and total liabilities and common stock remain unchanged. What must their total assets be next year?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...