At the beginning of the year, Treasures Company's Balance Sheet reported the following balances: • Total Assets = $195,000 • Total Liabilities = $65,000 • Common Stock = $10,000.   During the year, the company reported total revenues of $226,000 and expenses of $175,000. Also, dividends during the year totaled $48,000. The company also issued additional common stocks of $10,000 during the year. Assuming no other changes, the amount of Total Equity at the end of the year would be:

Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 53E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...
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At the beginning of the year, Treasures Company's Balance Sheet reported the following balances:

• Total Assets = $195,000

• Total Liabilities = $65,000

• Common Stock = $10,000.

 

During the year, the company reported total revenues of $226,000 and expenses of $175,000. Also, dividends during the year totaled $48,000. The company also issued additional common stocks of $10,000 during the year. Assuming no other changes, the amount of Total Equity at the end of the year would be:

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