Question

Motonous Corporation has completed its fiscal year and reported the following information. The company had current assets of $153,413, net fixed assets of $ 412,331, and other assets of $7,822. The firm also has current liabilities worth $65,314, long-term debt of $178,334, and common stock of $162,000. How much retained earnings does the firm have?

Answer 1

The retained earning is $167918.

Step-by-step explanation:

The current assets of the company = $153413

The net fixed assets = $412331

Other assets of the company = $7822

Current liabilities of the company = $65314

Long term debt = $178334

Common stock = $162000

Retained earnings = total assets - (total liabilities + common stock)

Retained earnings = 153413 + 412331 + 7822 - ( 65314+ 178334+162000)

Retained earnings = $167 ,918