The Baldwin Company currently has the following balances on their balance sheet:
ID: 2500503 • Letter: T
Question
The Baldwin Company currently has the following balances on their balance sheet:Total Liabilities $72,056
Common Stock $11,686
Retained Earnings $94,256
Suppose next year the Baldwin Company generates $36,500 in net profit and pays $15,000 in dividends and total liabilities and common stock remain unchanged. What must their total assets be next year? Select: 1 $229,498 $199,498 $105,943 $177,998 The Baldwin Company currently has the following balances on their balance sheet:
Total Liabilities $72,056
Common Stock $11,686
Retained Earnings $94,256
Suppose next year the Baldwin Company generates $36,500 in net profit and pays $15,000 in dividends and total liabilities and common stock remain unchanged. What must their total assets be next year? Select: 1 $229,498 $199,498 $105,943 $177,998
Explanation / Answer
72,056+11,686+94,256+36,500-15,000 = 1,99,498
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