2 pts Based on the following data and assuming that the common stock account balance is...

Question

Question

Answer 1

Answer #1

Total assets:

= $50,000 + $70,000 + $138,000 + $160,000 + $8,000 + $340,000

= $766,000

Total liabilities:

= $62,000 + $500,000 + $56,000

= $618,000

Stock holders equity:

= $766,000 - $618,000

= $148,000

Retained earnings:

= $148,000 - $48,000

= $100,000

3rd option

Answer 2

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