You've collected the following information about a company:Assets Liabilities and EquityCash9,000 Accounts payable17,000Marketable securities2,000 Notes payable6,000Accounts receivable5,000 Current liabilities Inventory36,000 Long-term debt95,000Current assets Total liabilities Machines34,000 Paid-in capital20,000Real estate80,000 Retained earnings Fixed assets Equity Total assets Total liab. & equity What is retained earnings?

Retained earnings = total assets - total liabilities - paid in capital

Answered: You've collected the following…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 6MCQ

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You've collected the following information about a company:

Assets		Liabilities and Equity
Cash	9,000		Accounts payable	17,000
Marketable securities	2,000		Notes payable	6,000
Accounts receivable	5,000		Current liabilities
Inventory	36,000		Long-term debt	95,000
Current assets			Total liabilities
Machines	34,000		Paid-in capital	20,000
Real estate	80,000		Retained earnings
Fixed assets			Equity
Total assets			Total liab. & equity

What is retained earnings?

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