The total assets of Lafayette Company are $66,030. Common stock account is $22,480, dividends are $8,980, revenues are $43,960, and expenses are $39,080. What is the amount of the company's total liabilities?

The total assets of Lafayette Company are $66,030. Common stock account is $22,480, dividends are $8,980, revenues are $43,960, and expenses are $39,080. What is the amount of the company's total liabilities?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 53CE: Profitability Ratios The following data came from the financial statements of Israel Company:...

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