Acme Company Balance Sheet As of January 5, 2019 (amounts in thousands) Cash 13,700 Accounts Payable...

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Acme Company Balance Sheet As of January 5, 2019 (amounts in thousands) Cash 13,700 Accounts Payable...

Acme Company Balance Sheet As of January 5, 2019 (amounts in thousands)
Cash	13,700	Accounts Payable	2,000
Accounts Receivable	3,200	Debt	3,600
Inventory	5,100	Other Liabilities	900
Property Plant & Equipment	15,400	Total Liabilities	6,500
Other Assets	800	Paid-In Capital	7,200
		Retained Earnings	24,500
		Total Equity	31,700
Total Assets	38,200	Total Liabilities & Equity	38,200

Update the balance sheet above to reflect the transactions below, which occur on January 6, 2019

1. Sell product for $40,000 with historical cost of $32,000
2. Sell product for $25,000 with historical cost of $20,000
3. Sell product for $30,000 with historical cost of $24,000

What is the final amount in Retained Earnings?

Please specify your answer in the same units as the balance sheet.

business accounting

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Answer 1

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Answer is highlighted in yellow: Solution: $ 43,500 Answer: Explanation: Retained Earning, Beginning Addition (40000-32000)+(

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Answer 2

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