Monday, September 28, 2015

What is retained earnings? The actual formula does not compute with the info here?


Accounts Payable $43,100
Inventory $117,100
Accounts Receivable 40,000
Land 45,100
Building 67,000
Mortgage Payable (long term) 78,100
Cash 26,100
Office Supplies 2,100
Common Stock 111,100
Retained Earnings?
Salaries Payable 7,100

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