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The following information appeared in the financial statement prepared on Dec 31, 2012 in dollars:
Selling Expenses: 56,448
Taxes Payable: 9,715
Inventory: 76,740
Plant and Equipment: 332,514
Common stock: 173,105
sales: 470,313
Accumulated depreciation: 71, 941
accounts payable: 54,724
cash: 39,954
wages payable: 4,852
cost of foods sold: 339,614
interest expense: 16, 056
bonds payable: 158,149
income tax expenses: 17,174
accounts receivable: 45,494
rent expense: 50,343
What were Retained Earnings?
The answer is 22, 216.
But how what numbers do you use to get that answer?
10 points!! Thanks!
Selling Expenses: 56,448
Taxes Payable: 9,715
Inventory: 76,740
Plant and Equipment: 332,514
Common stock: 173,105
sales: 470,313
Accumulated depreciation: 71, 941
accounts payable: 54,724
cash: 39,954
wages payable: 4,852
cost of foods sold: 339,614
interest expense: 16, 056
bonds payable: 158,149
income tax expenses: 17,174
accounts receivable: 45,494
rent expense: 50,343
What were Retained Earnings?
The answer is 22, 216.
But how what numbers do you use to get that answer?
10 points!! Thanks!
How do you find Retained Earnings?
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