AquilaI550402 AquilaI550402

31-10-2022
Mathematics

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Based on the following data and assuming that the common stock account balance is $ 62000, what is the balance in retainedearnings?Accounts payable$89000Accounts receivable61000Cash80000Inventory141000Buildings170000Bonds payable512000Supplies8600Notes payable58000Equipment365000

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YaidenI443648 YaidenI443648

31-10-2022

We have:

Total assets

[tex]61000+80000+141000+170000+8600+365000=825600[/tex]

Total liabilities

[tex]89000+512000+58000=659000[/tex]

Stockholders equity

[tex]825600-659000=166600[/tex]

Retained earnings

[tex]166600-62000=104600[/tex]

Answer: $104,600

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